MediLink Therapeutics (“MediLink”), announced today that it has entered into a worldwide collaboration and license agreement with Roche (SIX: RO, ROG; OTCQX: RHHBY) on the development of a next-generation antibody-drug conjugate candidate YL211, targeting c-Mesenchymal epithelial transition factor (c-Met) against solid tumors.
Under the terms of the agreement, MediLink will grant Roche exclusive global rights for the development, manufacturing, and commercialization of MediLink’s ADC asset, YL211. MediLink will work together with Roche’s R&D unit China Innovation Center of Roche (CICoR) to initiate the Phase I clinical trial of YL211 and Roche will then take over the further development and commercialization globally. MediLink will receive upfront and near-term milestone payments totaling $50 million and, together with additional development, regulatory and commercial milestone payments potentially reaching a total deal value nearing $1 billion, as well as tiered royalties on future global annual net sales.
