Biosion licenses BSI-060T (anti-Siglec-15) to Pyxis Oncology

Rhea-AI Summary

Pyxis Oncology has obtained exclusive rights to develop and commercialize Biosion's anti-Siglec-15 monoclonal antibody, BSI-060T, now known as PYX-106. The deal includes a $10 million upfront fee for Biosion, with potential milestone payments totaling $222.5 million and royalties on future sales. Pyxis plans to submit an IND to the FDA by late 2022 and initiate a Phase 1 trial. The new addition is expected to address significant medical needs in solid tumors, primarily non-small cell lung cancer and head and neck cancer.

Positive

• Upfront payment of $10 million enhances cash flow for Biosion.
• Potential for up to $222.5 million in milestone payments.
• Opportunity for royalties on commercial sales of PYX-106.

Negative

• None.

- Pyxis Oncology will be responsible for development and commercialization of BSI-060T (now referred to as PYX-106), a fully human anti-Siglec-15 monoclonal antibody

- Biosion earns a $10 million upfront license fee; additional milestone payments and royalties on commercial sales to be earned upon advancement of PYX-106

NEWARK, Del. and NANJING, China, March 29, 2022 /PRNewswire/ -- Biosion, Inc., a global R&D stage biotechnology company, today announced that Biosion and Pyxis Oncology (NASDAQ: PYXS) have entered into an agreement under which Pyxis Oncology will be granted an exclusive license to develop and commercialize Biosion's anti-Siglec-15 monoclonal antibody, BSI-060T (now referred to as PYX-106), world-wide, excluding Greater China. Under the terms of the agreement, Biosion will receive a $10 million up-front license fee from Pyxis Oncology. In addition to the up-front payment, Biosion has the potential to receive significant milestone payments for PYX-106, totaling up to $222.5 million and  single to low double-digit royalties on commercial sales. Pyxis Oncology plans on submitting the IND for PYX-106 to the FDA by the second half of 2022 and initiating a Phase 1 trial shortly thereafter. Under the agreement, Pyxis Oncology has the opportunity to license additional preclinical assets that target anti-Siglec-15 using other approaches to treatment.

"The anti-Siglec 15 monoclonal antibody, PYX-106, is an exciting addition to the Pyxis Oncology pipeline," said Jay Feingold, MD, PhD, Chief Medical Officer of Pyxis Oncology. "I believe this potential best-in-class program will address high unmet medical need in a variety of solid tumors including non-small cell lung cancer and head and neck cancer.  As an oncologist, my passion has been advancing potential breakthrough medicines to treat patients with difficult-to-treat cancers who have little hope in the advanced and progressive setting."

Biosion continues to deliver breakthrough therapies to address unmet medical needs of patients worldwide. To accelerate the global development of its innovative pipeline, Biosion is expanding worldwide partnerships with leading biotech companies. "The licensing of our anti-Siglec-15 mAb to Pyxis Oncology for global development demonstrates the strength of our discovery engine to generate antibody-based therapeutics with superior properties," said Mingjiu Chen, Ph.D., Chief Executive Officer and founder of Biosion. Dr. Chen continued "Data from anti-Siglec-15 preclinical studies show that BSI-060T has high affinity, high cell binding and activity, dose-proportional activity on reducing immunosuppression of Siglec-15 on T cells and long half-life that will allow BSI-060T to become a best-in-class mAb in the treatment of solid tumors."

About Biosion, Inc.

Biosion is a global R&D biotechnology company committed to developing antibody-based therapies to improve patient outcomes for the treatment of immune and oncologic diseases. Established in 2017, Biosion has built a pipeline of innovative biologics through its internally derived technologies including the H³ antibody discovery, SynTracer™ HT-endocytosis and Flexibody™ bispecific platforms. Biosion's lead asset, BSI-045B (anti-TSLP mAb), is currently in phase 1 clinical trials for atopic dermatitis and severe asthma. Biosion and partners have plans to progress additional assets into the clinic for oncology indications over the next year. Biosion has operations in the US, Australia, and China. To learn more about Biosion visit www.biosion.com.

About Pyxis Oncology, Inc. 

Pyxis Oncology, Inc. is a multi-asset, multi-modality company focused on defeating difficult to treat cancers and improving patient lives. By leveraging our fully integrated research, development and commercial capabilities, our expert team is efficiently building a diversified portfolio of next-generation therapeutics. Pyxis Oncology's therapeutic candidates are designed to directly kill tumor cells, and to address the underlying pathologies created by cancer that enable its uncontrollable proliferation and immune evasion. Since its launch in 2019, Pyxis Oncology has developed a broad portfolio of novel antibody-drug conjugate product candidates, and monoclonal antibody, or mAb, preclinical discovery programs that it is developing as monotherapies and in combination with other therapies. To learn more about Pyxis Oncology, visit www.pyxisoncology.com.

Media and Investor Contact:
Frank Liu, Ph.D.
Senior Director, Business Development
Biosion USA, Inc.
Phone: +1-302-998-5126
E-mail: Frank.Liu@Biosion.com

View original content:https://www.prnewswire.com/news-releases/biosion-licenses-bsi-060t-anti-siglec-15-to-pyxis-oncology-301512711.html

SOURCE Biosion, Inc.

FAQ

What is the value of the licensing agreement between Pyxis Oncology and Biosion for PYX-106?

The licensing agreement includes a $10 million upfront fee, potential milestone payments up to $222.5 million, and royalties on commercial sales.

When does Pyxis Oncology plan to submit the IND for PYX-106?

Pyxis Oncology plans to submit the IND for PYX-106 to the FDA in the second half of 2022.

What cancer types is PYX-106 targeting?

PYX-106 is targeting solid tumors including non-small cell lung cancer and head and neck cancer.

What is the significance of the anti-Siglec-15 antibody PYX-106 to Pyxis Oncology?

PYX-106 is considered a potential best-in-class treatment that addresses high unmet medical needs in difficult-to-treat cancers.