Aclaris Therapeutics has secured an exclusive licence from Biosion for the global rights to two new antibodies, BSI-045B and BSI-502, excluding Greater China.
Biosion will be eligible for a $40m upfront licence fee in cash along with reimbursement for specific development costs and drug products.
The company will also receive 19.9% common stock shares of Aclaris and more than $900m in additional sales and regulatory milestone payments with tiered sales royalties.
BSI-045B is a clinical-stage anti-thymic stromal lymphopoietin (TSLP) monoclonal antibody. BSI-502, a bispecific antibody targeting TSLP and IL4R, is in the pre-clinical stage.
In a completed, proof-of-concept, single-arm Phase IIa study, BSI-045B demonstrated a pharmacodynamic profile along with safety and efficacy for moderate to severe atopic dermatitis treatment in 22 subjects in the US.
The antibody is also undergoing multiple Phase II studies in China for severe asthma and chronic rhinosinusitis with nasal polyps, conducted by Chia Tai Tianqing Pharmaceutical Group, Biosion’s partner in the region.
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Financial advisory for the licensing deal was provided to Aclaris by Leerink Partners and Cantor.
Cooley served as Aclaris’s corporate counsel, while DLA Piper (US) offered intellectual property counsel. Biosion was represented by Morgan, Lewis & Bockius.
Aclaris Therapeutics board of directors chair and interim CEO Dr Neal Walker stated: “This transformative transaction, which marks the completion of our strategic review process, accelerates our evolution into becoming a leading immunology company with both small and large molecule drugs.
“Despite recent advances with anti-TSLP and anti-IL4R therapies, there remains substantial unmet need for more effective and convenient treatment options.
“BSI-045B’s compelling Phase IIa proof-of-concept data in atopic dermatitis, together with BSI-502’s dual-targeting approach, complement our existing ITK inhibitor portfolio, resulting in a pipeline of differentiated assets that target multiple high-value indications.”
Alongside the licence agreement, Aclaris also announced the appointment of two key executives.
Hugh Davis joined as president and chief operating officer, and Steven Knapp has been named executive vice-president and head of regulatory and quality.
Davis said: “Having led key functions in the development of multiple approved biologics, I’m particularly excited about the potential of BSI-045B and BSI-502.
“I am thrilled to join the world-class scientific leadership team at Aclaris. Together with their existing compelling portfolio, Aclaris is now well positioned to advance innovative small and large molecule programmes through clinical development in the quest to deliver exceptional therapies for patients worldwide.”
