ModeX Therapeutics Inc., a subsidiary of OPKO Health (NASDAQ: OPK), has announced a significant license and collaboration agreement with Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) to discover and develop multispecific antibodies for several therapeutic indications. The partnership combines ModeX's MSTAR platform with Regeneron's proprietary binders to create antibody candidates that target multiple distinct biological pathways in a single molecule.
Financial Terms and Structure
Under the agreement terms, ModeX will receive an upfront payment of $7 million, with potential future product selection payments, clinical and regulatory milestone payments, and commercial milestone payments exceeding $200 million per selected molecule. The overall collaboration value potentially exceeds $1 billion if multiple products advance successfully. Additionally, ModeX is eligible to receive tiered global net sales royalties up to low double digits at the highest tier, while Regeneron will fund and lead preclinical, clinical development, and commercialization activities for any products it elects to advance.
Therapeutic Focus Areas
The collaboration will explore multispecific antibodies across multiple disease categories, including immunology, oncology, and metabolic diseases. According to Gary Nabel, M.D., Ph.D., President and Chief Executive Officer of ModeX and Chief Innovation Officer of OPKO Health, "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."
MSTAR Platform Technology
The partnership centers on ModeX's Synergistic Targeting of Antibody Receptors (MSTAR) platform, which generates multispecific antibodies from modular building blocks designed to modulate potency and maximize specificity. The platform addresses a fundamental limitation in current therapeutics: while many untreatable or complex conditions arise from multiple disease pathways, most medicines only act on a single target.
Elias Zerhouni, M.D., President and Vice Chairman of OPKO, emphasized the platform's capabilities: "We have dramatically expanded the therapeutic potential of antibodies through our MSTAR platform. Our antibody candidates are already in clinical trials, providing unique disease target combinations and reliable manufacturing."
Strategic Rationale
George D. Yancopoluos, M.D., Ph.D., Board Co-Chair, President and Chief Scientific Officer of Regeneron, highlighted the strategic alignment between the companies: "Like Regeneron, ModeX has a team of scientist entrepreneurs who think creatively about science and technology. By pairing Regeneron's expertise in drug development with ModeX's platform for multispecific antibodies, we are building on Regeneron's longstanding work in bi-and multi-specific antibodies and increasing our shots on goal by identifying more candidates faster to potentially help patients across multiple disease categories."
Company Background
ModeX Therapeutics is a clinical-stage biopharmaceutical company developing innovative multispecific biologics for cancer and infectious disease. The company's pipeline includes candidates against both solid and hematologic tumors, as well as several viral threats. ModeX's founding team includes globally recognized medical innovators with proven track records of delivering breakthroughs for patients.
The collaboration represents a significant milestone for both companies in advancing the next generation of antibody therapeutics that can simultaneously target multiple disease pathways, potentially offering new treatment options for complex conditions that have been difficult to address with traditional single-target approaches.
