TriOar, a Seoul Bio Hub resident company, announced that it has signed a technology transfer and joint development conversion agreement with Celltrion for its platform technology, TROCAD™ (TriOar's Conditionally Activatable Domain). The agreement is worth approximately $356 million if all six targets are licensed, with development milestones of up to $231 million and sales milestones of up to $125 million. There is no upfront payment, and a platform technology licensing fee of 1 billion won will be paid upon successful verification of the first target.
TROCAD™ is a platform technology applicable to antibody-based therapeutics, including ADCs, and has a structure that selectively delivers drugs to cancer tissues while blocking non-specific binding to normal cells.
Based on this technology, Celltrion plans to develop and commercialize next-generation ADCs targeting six targets, with a joint development option available for two of these targets. Trior, a biotechnology company with the TROCAD™ and TROSIG™ platforms, is continuously advancing its technology based on the Seoul Bio Hub's research infrastructure.
This agreement is seen as a case in which Trioer's platform technology has been recognized for its global competitiveness, and the two companies plan to expand their cooperation in new drug development in the future.
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