Turning Point licenses gastrointestinal cancers candidate from Lanova Medicines

May 05, 2022 9:43 AM ETBristol-Myers Squibb Company (BMY)By: Jonathan Block, SA News Editor

Colon cancer. Colon disease concept

Mohammed Haneefa Nizamudeen/iStock via Getty Images

  • Turning Point Therapeutics (NASDAQ:TPTX) has licensed LM-302 from LaNova Medicines, an antibody drug conjugate (ADC) that could potentially treat gastric, gastroesophageal junction, and pancreatic cancer.
  • LM-302, which will now be known as PX-4589, is in phase 1.
  • PX-7589 targets Claudin18.2, a protein expressed in many gastrointestinal cancers.
  • Terms of the deal call for LaNova to receive a $25M upfront payment. The company is also eligible for up to an additional $195M in milestone payments, as well as sales royalties. Both companies may also work on up to three additional ADC targets.
  • In March, Turning Point (TPTX) saw its chief scientific officer resign.

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