SOTIO Biotech and Biocytogen announced a research collaboration and exclusive option and license agreement. The agreement grants SOTIO the option to license multiple fully human bispecific antibodies generated with Biocytogen?s proprietary RenLite® platform, which SOTIO will use to develop next-generation antibody-drug conjugates (ADCs) targeting solid tumors. The agreement also includes an option for SOTIO to leverage Biocytogen?s proprietary ADC platform.

Biocytogen will be eligible to receive upfront, development, and commercial milestones and royalties on net sales on a product-by-product basis. Under the terms of the agreement, Biocytogen is eligible to receive upfront and potential milestone payments worth up to $325.5 million, plus low single-digit royalties on net sales. SOTIO and Biocytogen will collaborate closely during the research phase of the bispecific programs. SOTIO will be responsible for non-clinical and clinical development, manufacturing, and commercialization of the ADC products.