Regeneron and ModeX Therapeutics Forge $1B+ Antibody Development Partnership

Regeneron Pharmaceuticals has entered into a significant collaboration with ModeX Therapeutics, pledging over $1 billion in potential payments to leverage ModeX's next-generation antibody platform. This partnership marks a substantial investment in the development of multispecific antibodies, aiming to address a range of diseases including immunology, oncology, and metabolic disorders.

Deal Structure and Financial Terms

The agreement involves an initial $7 million upfront payment from Regeneron to ModeX Therapeutics. The total potential value of the deal exceeds $1 billion, with ModeX eligible for milestone payments that could surpass $200 million for each antibody chosen for advancement. Regeneron will be responsible for funding the entire development process, from preclinical studies through commercial development, for any ModeX product selected under this collaboration.

ModeX's MSTAR Platform and Clinical Progress

At the heart of this partnership is ModeX's proprietary MSTAR platform, designed to generate antibodies capable of binding to multiple disease targets across different biochemical pathways. The platform has already shown promise, with antibody candidates currently in clinical trials.

Elias Zerhouni, M.D., president and vice chairman of OPKO Health, ModeX's parent company, highlighted the platform's capabilities: "Our antibody candidates are already in clinical trials, providing unique disease target combinations and reliable manufacturing."

In a recent development, ModeX initiated a phase 1/2 trial of a trispecific antibody targeting advanced tumors, with the first patient dosed just prior to the announcement of the Regeneron partnership. The company has also demonstrated the potential of its antibodies in protecting hamsters against multiple SARS-CoV-2 variants, showcasing the versatility of the MSTAR platform.

Regeneron's Antibody Expertise and Pipeline

Regeneron brings extensive experience in antibody development to this collaboration. The company's first antibody medicine, Praluent, developed in partnership with Sanofi, received FDA approval in 2015. Since then, Regeneron has built a robust pipeline of antibody therapeutics targeting various conditions.

George Yancopoulos, M.D., Ph.D., Regeneron's president and chief scientific officer, emphasized the strategic fit of this partnership: "By pairing Regeneron's expertise in drug development with ModeX's platform for multi-specific antibodies, we are building on Regeneron's longstanding work in bi-and multi-specific antibodies and increasing our shots on goal by identifying more candidates faster to potentially help patients across multiple disease categories."

This collaboration comes on the heels of recent successes for Regeneron in the allergy space, with its allergen-blocking antibodies REGN1908 and REGN1909 demonstrating positive results in phase 3 trials for cat and pollen allergies.