Ono Pharmaceutical has entered a license agreement with LigaChem Biosciences for LCB97, a pre-clinical ADC aimed at being a first-in-class treatment for solid tumors, along with a collaboration to develop novel ADC candidates using LigaChem’s ConjuAll™ ADC platform

LCB97 targets the L1 cell adhesion molecule (L1CAM), which is highly expressed in multiple solid tumors

Ono will have exclusive worldwide rights to develop, manufacture, and commercialize LCB97, with an upfront payment and potential milestone payments totaling up to $700 million, along with tiered royalties based on net sales

In addition to the license agreement, Ono and LCB will collaborate to generate novel ADC candidates against multiple targets, granting Ono exclusive global rights to these candidates under a separate agreement