Aimed Bio's ADC Leads the Way with First Dosing, Set to Receive Subsequent Milestone Payments from Boehringer

Aimed Bio Receives Subsequent Milestone Payment from Boehringer Ingelheim

Aimed Bio (0009K0) is set to receive a follow-up milestone payment from Boehringer Ingelheim, marking a significant development in their collaboration. The payment is in relation to the company's antibody-drug conjugate (ADC) candidate, 'ODS025', which has successfully commenced its Phase 1 clinical trial, administering the first dose to a patient. This milestone is separate from the previously disclosed payment in June.

On the 27th, Aimed Bio announced that it will receive a milestone payment as per the terms of their technology transfer agreement for ODS025. The claimed amount exceeds 10% of the company's consolidated operating revenue of approximately $473 million for the previous year. The exact figure remains undisclosed due to confidentiality clauses in the contract.

The company further revealed that the ongoing Phase 1 clinical trial, known by the development name 'BI 4060107', has administered its first dose to a patient. This administration fulfills the development milestone criteria as outlined in the contract, triggering the payment.

Previously, on June 26, the company announced plans to receive milestones following approval of the U.S. phase 1 clinical trial plan.

According to the company, the first half performance reflected milestones related to ODS025 and joint development costs related to AMB303, which is being jointly developed with SK Plasma. Consolidated sales in the first half of the year were 28.7 billion won and operating profit was 4.6 billion won. Second quarter sales amounted to 20.2 billion won, up 166% from the same period last year.

This staged payment is in accordance with the global technology transfer agreement signed on October 15 last year. Boehringer Ingelheim has secured the rights to develop and commercialize the candidate material worldwide. The total amount of advance payment and development, licensing, and commercialization milestones that Aimed Bio can receive is up to $991 million. Royalties based on net sales are collected separately.

According to clinical trial registration information, the sponsor (client) of this phase 1 is Aimed Bio, and Boehringer Ingelheim is registered as a partner.

BI 4060107 is highly expressed in several carcinomas and is designed to target targets related to tumor growth, metastasis, and treatment resistance. The specific target name was not disclosed. This clinical trial will gradually increase the dose for patients with unresectable advanced or metastatic solid cancer and confirm tolerability and appropriate dosage.