As part of the deal, Tesaro will receive rights to monospecific antibody drug candidates targeting TIM-3, LAG-3 and PD-1 and dual reactive antibody drug candidates targeting PD-1/TIM-3 and PD-1/LAG-3.
Therapeutic antibodies selected from these programs will form the basis of a strategic platform that will allow Tesaro to develop new monotherapy and combination-based approaches with immuno-oncology and other anti-cancer agents in a variety of indications.
Antibody candidates from these programs will enter clinical trials over the next 18 to 24 months.
Tesaro president Mary Lynne Hedley said the agreement provides the company with a basis from which to develop novel therapeutics, including combination-based approaches, against a variety of tumor targets and may uniquely position Tesaro for collaborations with new partners.
"These antibody candidates are being developed to address some of the most validated and promising targets in immuno-oncology," Hedley said.
"We are also interested in evaluating combinations of these antibodies with TSR-011, our ALK/TRK inhibitor, and niraparib, our PARP inhibitor, in addition to other anti-tumor agents with complementary mechanisms, such as immune modulating agents."
First clinical trial under the deal is expected to start in mid-2015 and Tesaro expects to advance an additional candidate into clinical trials every one to two quarters thereafter.
As part of the deal, TESARO will pay an upfront license fee of $17m, as well as provide funding of costs incurred by AnaptysBio related to the development programs.
For each development program, AnaptysBio is eligible to get milestone payments of $18m if certain research and development events are achieved and an additional $90m related with certain US and ex-US regulatory submissions and approvals in multiple indications.
AnaptysBio will also be eligible to get tiered single-digit royalties associated to worldwide net sales of products developed under the deal and certain commercial milestone payments if specified levels of annual worldwide net sales are attained.
Both the firms will jointly complete preclinical development of the antibody candidates, with Tesaro being solely responsible for all clinical development, manufacturing, regulatory and commercial activities.
AnaptysBio president and CEO Hamza Suria said the company’s SHM-XEL platform has successfully generated highly potent therapeutic antibodies against multiple immuno-oncology checkpoint receptors.
"In addition to selecting for antibodies with optimal checkpoint antagonist function, our mammalian cell display system permits simultaneous selection for high antibody expression, stability and robust biophysical features required for successful development and ideal pharmacokinetic properties," Suria said.