(RTTNews) - French specialty-care biopharmaceutical company Ipsen (IPSEY) and Biomunex have announced an exclusive global licensing agreement for a first-in-class MAIT cell engager in immuno-oncology.

Ipsen has secured exclusive global rights to develop, manufacture and commercialize BMX-502, a pre-clinical novel T cell engager (TCE) with first-in-class potential. BMX-502 is a bispecific antibody engaging MAIT cells, a subset of non-conventional T cells, and targeting the clinically validated tumor antigen GPC3 to kill cancer cells.

As per the terms of the agreement, Biomunex will complete the IND-enabling package. Ipsen will assume responsibility for Phase I preparation activities, including submission of the Investigational New Drug (IND) application, and all subsequent clinical-development and global commercialization activities.

Biomunex is eligible to receive up to $610 million, including upfront, contingent upon successful development, regulatory and commercial milestones, in addition to tiered global royalties on sales.