Amgen in licensing deal with LegoChem for antibody drug conjugates
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Amgen (NASDAQ:AMGN) has partnered with South Korean biopharma company LegoChem Biosciences to develop and sell therapeutics based on antibody-drug conjugates ((ADCs)) in a deal worth more than $1B.
Per the terms, LegoChem grants Amgen (AMGN) the rights to research, develop, and commercialize ADCs against up to five targets of U.S. pharma giant's choice.

The ADCs are based on LegoChem's clinical-stage ConjuAll ADC technology platform, which according to the company, is designed to overcome the limitations of traditional ADC technologies.
According to the deal, LegoChem can receive up to $1.25B in upfront, development, and commercial milestone payments in addition to tiered royalties as a percentage of worldwide sales of resulting products.
"Amgen has a proven track record of bringing transformative medicines to market, and we are pleased that they selected our ADC technology to integrate with their efforts to develop next-generation ADCs," LegoChem Chief Executive Yong-Zu Kim said.
Amgen's (AMGN) deal with LegoChem comes shortly after the rival Merck (MRK) announced a similar agreement with China-based Kelun-Biotech to develop seven preclinical ADCs in a deal worth more than $9B.