Mersana will receive an upfront payment of $100m, eligible to receive up to $1.36bn in option exercise and milestone payments, and retains the options to profit-share and to co-promote the drug in the US
Mersana, GSK collaborate on XMT-2056. (Credit: Julia Koblitz on Unsplash)
Mersana Therapeutics has entered into a global collaboration with GSK to co-develop and commercialise XMT-2056, its ADC targeting novel epitope of HER2.
Under the terms of the agreement, Mersana will receive an upfront payment of $100m and is eligible to receive up to $1.36bn in option exercise and milestone payments.
The company retains the options to profit-share and to co-promote in the US, and is eligible to receive tiered royalties on net sales outside of the US if it exercises the option.
Mersana will receive tiered royalties on global net sales if it does not exercise the option.
If GSK opts into the license, the transfer of license is subject to certain customary closing conditions, including review under the Hart-Scott-Rodino Act.
GSK Research senior vice president John Lepore said: “At GSK, our goal is to bring transformational treatment options to patients with cancer, so we are pleased to be able to enter into this agreement for XMT-2056.
“Its preclinical data demonstrate how it might work to harness the immune system by activating the STING pathway, and its differentiated mechanism of action offers the potential for additional clinical benefit in patients with HER2-expressing tumours.”
Mersana is a US-based biopharmaceutical company focused on the discovery and development of antibody-drug conjugates (ADCs) targeting several cancer types.
The company has designed XMT-2056 to activate the innate immune system through STING signalling in both tumour-resident immune cells and in tumour cells.
In preclinical models, the drug showed anti-tumour activity in both HER2-high and HER2-low expressing models, when used as a monotherapy.
It also showed enhanced efficacy when used in combination with multiple approved agents, including trastuzumab, pertuzumab, anti-PD-1, or trastuzumab deruxtecan, said Mersana.
The US drugmaker plans to initiate a Phase 1 clinical trial of XMT-2056 to evaluate its potential in a range of HER2-expressing tumours such as breast, gastric and lung cancers.
The company has recently secured an orphan drug designation from the US Food and Drug Administration (FDA) for the treatment of gastric cancer.
Mersana Therapeutics president and chief executive officer Anna Protopapas said: “GSK brings highly complementary development and commercial capabilities, a wealth of immuno-oncology experience, a deep knowledge of the STING pathway and a shared vision for XMT-2056’s broad potential.
“We believe this agreement solidifies Mersana’s position as a partner of choice during this momentous period in the ADC space and serves as validation for our Immunosynthen platform, which takes ADCs beyond the cytotoxic realm by enabling a targeted stimulation of the innate immune system.
“Additionally, the agreement structure demonstrates our ability to generate meaningful non-dilutive capital upfront to support the development of our innovative candidates while also providing the potential for meaningful downstream economics.”