10:46 AM EDT, 05/28/2024 (MT Newswires) -- BioNTech (BNTX) has received an exclusive licensing option to develop several prospective treatments using the Tmalin antibody-drug conjugate platform developed by MediLink Therapeutics, the Chinese biotech company said.

Under the terms of the agreement, BioNTech will pay $25 million upfront to MediLink, which will also be eligible to receive up to $1.8 billion in development, regulatory and sales milestones, as well as royalties on potential future sales.

BioNTech and MediLink previously announced a similar collaboration and license agreement to develop an antibody-drug conjugate to treat HER-3 breast cancer in October 2023.

BioNTech shares were 2% lower in recent trading.

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