Biocytogen-B Surges Over 6% in Morning Session as First Patient Dosing of IDE034 Triggers $5 Million Milestone Payment

Deep News02-26

Biocytogen-B (02315) rose more than 6% before noon. At the time of writing, the stock increased by 6.49% to HK$53.35, with a turnover of HK$28.4794 million.

IDEAYA announced that the first patient has been dosed in the Phase I dose-escalation/expansion clinical trial of its investigational PTK7/B7H3 bispecific TOP1 antibody-drug conjugate (ADC) IDE034. According to the option and license agreement signed by the two parties, the first patient dosing of IDE034 will trigger a milestone payment of $5 million from IDEAYA to Biocytogen.

It is reported that IDE034 is a potential first-in-class dual-target B7H3/PTK7 TOP1 ADC, independently developed by Biocytogen and licensed to IDEAYA in July 2024. In December last year, the project received clinical trial approval from the U.S. FDA. This IND approval marks an important milestone in the collaboration between the two companies, laying the foundation for advancing the subsequent clinical development of IDE034, while also demonstrating Biocytogen's technical strength in the field of bispecific ADC discovery and development.

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