Hong Kong-listed AI-driven drug delivery innovation company Metis TechBio Co Ltd said on Tuesday it had granted Boulevard Bio, an immunotherapy company backed by healthcare investment firm Deerfield Management, exclusive worldwide rights to develop, manufacture and commercialize its experimental cancer immunotherapy candidate MTS-128 in a deal worth up to $1.62 billion.
Under the agreement, Metis TechBio will receive an upfront payment of $20 million and is eligible for up to $1.6 billion in development, regulatory and commercial milestone payments, as well as tiered royalties on future global sales, the company said.
The deal covers MTS-128, a preclinical trispecific T-cell engager (TCE) developed using the company’s proprietary AI-powered protein design platform, NanoForge.
Unlike conventional bispecific T-cell engagers, MTS-128 is designed to simultaneously engage three biological targets, with the aim of improving tumor cell killing while expanding the therapeutic window and enhancing target specificity and safety, the company said.
Boulevard Bio will obtain exclusive global rights to develop, manufacture and commercialize the candidate.
