December 20, 2022 – GlyTherix Ltd (“GlyTherix”), an Australian immuno-oncology company today announced an MTA & Option License with Adcendo ApS (“Adcendo”), a Danish biotech company focused on the development of breakthrough antibody-drug conjugates (ADCs) for the treatment of underserved cancers, to develop an Antibody Drug Conjugate (ADC) against the innovative solid tumor target GPC-1.

Under the terms of the agreement, Adcendo’s planned pre-clinical ADC development program will be based on GlyTherix’s lead anti-GPC-1 monoclonal antibody, Miltuximab®.

Brad Walsh, CEO of GlyTherix, said: “Initial studies have demonstrated a strong patient safety profile with no adverse events from relevant doses of the antibody. We are very excited to be partnering with Adcendo to further develop our antibody candidate. Successful pre-clinical studies have the potential to lead to a licensing agreement to clinically develop and globally commercialize the anti-GPC-1 ADC for several hard-to-treat solid tumor indications.”

Michael Pehl, CEO of Adcendo, said: “We are delighted to be partnering with GlyTherix as we continue to develop ADCs for the treatment of underserved cancers. The GlyTherix team has accomplished outstanding work in ensuring a deep understanding of the target in solid tumors and developing Miltuximab®. GPC-1 is a highly suitable target for ADCs and our collaboration is a great opportunity to bring a novel treatment option to patients with hard-to-treat solid tumor cancers while we are building and advancing a pipeline of highly differentiated ADCs at Adcendo.”