A humanised monoclonal antibody Epratuzuma binds to the CD22 glycoprotein on the surface of B cells and is a well-validated target for hematological cancers.
Algeta executive vice president and chief technology officer Thomas Ramdahl said, "The broad utility of our proprietary thorium-227 payload and its potential to be more effective at killing cancer cells than other therapeutic payloads gives Algeta a great opportunity to build an extensive pipeline of targeted cancer therapies."
According to the deal, Immunomedics will deliver clinical-grade antibody and the TTC will be evaluated by Algeta for the cancer treatment.
Algeta is responsible for preclinical and clinical development costs. If phase I testing is completed successfully, the terms of license will be discussed based on certain parameters.
Immunomedics will obtain signature fee, an antibody delivery milestone and payments for manufacturing of cGMP antibody.
Further details of the deal were not revealed.