BioNTech signs deal to co-develop OncoC4's cancer drug

BioNTech facility in Marburg
The logo of BioNTech is seen in Marburg, Germany, February 2, 2023. REUTERS/Fabian Bimmer

March 20 (Reuters) - Germany's BioNTech SE (22UAy.DE) said on Monday that it signed a deal with privately held OncoC4 Inc to co-develop and commercialize its cancer antibody drug candidate.

OncoC4 will get a $200 million upfront payment and is eligible to receive development, regulatory and commercial milestone payments as well as double-digit tiered royalties.

The companies said they will co-develop the candidate, ONC-392, as a monotherapy or as a combination therapy in various cancer indications.

A late-stage trial for the drug has been planned for this year, the companies said.

(This story has been refiled to correct the typo in the headline)

Reporting by Sriparna Roy in Bengaluru; Editing by Anil D'Silva and Savio D'Souza

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