Finland-based Orion Corporation, a globally operating Finnish pharmaceutical company, and Glykos Finland Oy, a company focussed on antibody-drug conjugates making to revolutionizing cancer treatment, both companies jointly announced a research and licensing collaboration agreement to develop next-generation antibody-drug conjugates (ADCs).
Under the agreement, Orion gains access to Glykos’ proprietary antibody-drug conjugate technologies, initiating an antibody-drug conjugate programme with the potential for expansion into two additional programs in the future. Orion will be responsible for the target selection, research, development, and commercialization of up to three next-generation antibody-drug conjugates, with a focus on solid tumours.
Glykos is eligible for milestone payments related to signing of the agreement, target selection and sales milestones. Glykos is also entitled to receive royalties on commercial sales generated from the three antibody-drug conjugate programs.
Outi Vaarala, senior vice president, Innovative Medicines and R&D, Orion Corporation, said: “Collaboration with Glykos and possibility to utilize their antibody-drug conjugate technology complements nicely our research portfolio in oncology and is yet another demonstration of our will to develop new treatment options for cancer patients with unmet needs.”
Juhani Saarinen, CEO of Glykos, said: "The acknowledgment of our ADC technology by an esteemed pharmaceutical company like Orion is a strong statement to the transformative potential of these technologies in enhancing the therapeutic index of antibody-drug conjugates. We look forward to partnering with Orion and believe that with their expertise on cancer therapies and robust clinical pipeline, this partnership can deliver innovative medicines for cancer patients.”
Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. Orion has an extensive portfolio of proprietary and generic medicines and self-care products. The core therapy areas of our pharmaceutical R&D are oncology and pain. Proprietary products developed by Orion are used to treat cancer, neurological diseases and respiratory diseases, among others. Orion's net sales in 2022 amounted to EUR 1,341 million and the company had about 3,500 employees at the end of the year.
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