Opko’s ModeX Therapeutics Lands Potential $1 Billion Partnership with Pharmaceutical Giant Regeneron
A Weston-based biotech company has scored a major partnership that could be worth more than $1 billion.
ModeX Therapeutics, a subsidiary of OPKO Health, announced Tuesday that it has entered into a collaboration agreement with pharmaceutical giant Regeneron to develop a new class of antibody-based medicines.
The deal brings an immediate $7 million payment to ModeX, with potential milestone payments exceeding $200 million per drug candidate that advances through development. If multiple products succeed, the partnership's total value could surpass $1 billion.
What Makes This Partnership Significant
The collaboration centers on ModeX's innovative MSTAR platform, which creates antibodies capable of targeting three or more disease pathways simultaneously. Traditional medicines typically address only one target at a time, limiting their effectiveness against complex conditions.
"This agreement allows us to work closely with Regeneron, world leaders in the development of antibody medicines, to explore the promise of multispecific antibodies in new indications, including immunology, oncology and metabolic diseases," said Gary Nabel, M.D., Ph.D., President and CEO of ModeX.
Regeneron will fund and lead all preclinical and clinical development work for products it chooses to advance. ModeX will also receive royalties on any resulting drug sales.
Local Innovation Goes Global
ModeX, headquartered here in Weston, already has antibody candidates in clinical trials. The company focuses on developing treatments for cancer and infectious diseases.
"By pairing Regeneron's expertise in drug development with ModeX's platform for multispecific antibodies, we are increasing our shots on goal by identifying more candidates faster to potentially help patients across multiple disease categories," said George D. Yancopoulos, M.D., Ph.D., Regeneron's President and Chief Scientific Officer.
OPKO Health trades on the NASDAQ under the ticker OPK.