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Algok Bio Enters into Exclusive Worldwide License Agreement with BTG to Develop and Commercialize Idetrexed, a Clinical-Stage Folate Receptor-Targeted Oncology Drug

Dr. Sung Chul Kim, President and Founder of Algok Bio, commented, “As the only small molecule drug with a unique mechanism of action currently targeting FRα, the efficacy and safety profiles in early clinical studies were highly promising and competitive with other antibody-drug conjugate drugs. We are thrilled to be a part of this development program and believe it holds significant potential as an effective treatment for ovarian cancer patients.”

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“The acquisition of Biotheus builds on our successful ongoing collaboration on BNT327/PM8002 and other investigational bispecific antibodies,” said Prof. Ugur Sahin, M.D., Ph.D., CEO and co-founder of BioNTech. “We believe that BNT327/PM8002 has the potential to set a new standard of care in multiple oncology indications, surpassing traditional checkpoint inhibitors.