On May 5, 2022, Turning Point Therapeutics, Inc., a clinical-stage precision oncology company designing and developing novel targeted therapies for cancer treatment, announced that it has entered into an exclusive license agreement with LaNova Medicines Limited to develop and commercialize LM-302, a novel antibody drug conjugate (ADC) targeting Claudin18.2, in the U.S. and the rest of the world, excluding Greater China and South Korea. Wilson Sonsini Goodrich & Rosati advised LaNova on licensing and patent matters related to the transaction.

Under the terms of the licensing agreement, LaNova will receive an upfront payment of $25 million and will be eligible to receive up to an additional $195 million in development and regulatory milestone payments. In addition, LaNova is eligible to receive commercial sales milestones and tiered royalties ranging from mid-single-digit to mid-teens percentages on net sales (subject to customary deductions). As part of the agreement, both parties agreed to potentially broaden the partnership by collaborating on up to three additional ADC programs.

Claudin18.2 is a protein expressed in many gastrointestinal cancers, including gastric, gastroesophageal junction, and pancreatic cancer. LM-302, which going forward will be identified as TPX-4589, is currently in Phase 1 clinical trials in both the U.S. and China. TPX-4589 (LM-302) is a potentially first-in-class anti-Claudin18.2 ADC discovered by LaNova that suppresses cell proliferation of gastric and pancreatic cell lines with nanomolar potency in preclinical models. It also has demonstrated efficacy in gastric and pancreatic cancer xenograft models.

The Wilson Sonsini team that advised LaNova on the transaction included technology transactions partner Alex Key and Of Counsel Chi-Fei Wang, and patents and innovations Senior Of Counsel Karen Wong and Of Counsel Richard Wang.

For more information, please see Turning Point’s press release.