10:17 AM EDT, 10/29/2025 (MT Newswires) -- OPKO Health's ( OPK ) ModeX Therapeutics unit said Wednesday it signed a license and collaboration agreement with Regeneron Pharmaceuticals ( REGN ) to develop multispecific antibodies for several therapeutic indications.

ModeX said the collaboration will use its MSTAR platform and Regeneron's proprietary binders to develop antibody candidates that target multiple biological pathways in a single molecule.

Under the agreement, ModeX will receive an upfront payment of $7 million and may earn more than $200 million in milestone payments per molecule. The overall value of the partnership could exceed $1 billion if multiple products are successful, it said.

ModeX is also eligible for tiered global net sales royalties, it said.

Regeneron will fund and lead preclinical, clinical development, and commercialization activities for any products it chooses to advance, according to ModeX.

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