Pinotbio Secures Milestone Payment Following Celltrion’s Execution of ADC Platform Technology Option

CAR-T Digest - August 2020

24 Sep 2024: Pinotbio Secures Milestone Payment Following Celltrion’s Execution of ADC Platform Technology Option

Pinotbio is set to receive a milestone payment from Celltrion after the latter chose to continue R&D on two drug candidates using Pinotbio’s ADC platform, PINOT-ADC
The milestone payment is the first agreement signed in October 2022, where Celltrion secured options to use the PINOT-ADC technology for up to 15 cancer targets
Celltrion initially paid an upfront fee of 1 billion won ($749,175) and could lead to a total of about $1.2 billion in payments if all options are exercised, including advance payments and milestones
The PINOT-ADC platform offers next-generation ADC technology designed to improve safety and efficacy, utilizing a novel Camptothecin derivative for payload and cleavable linker technology
Company expressed confidence in the platform’s capability to meet Celltrion’s standards and emphasized the intention to collaborate closely for generating additional revenue and enhancing company value