Opko Health Inc.'s (OPK) ModeX Therapeutics Announces License and Collaboration Agreement With Regeneron Pharmaceuticals

Opko Health Inc. (NASDAQ:OPK) is one of the best stocks under $5 with highest upside potential. ModeX Therapeutics Inc., an Opko Health Inc. (NASDAQ:OPK) company, announced on October 29 a license and collaboration agreement with Regeneron Pharmaceuticals Inc. for the development and discovery of multispecific antibodies for a number of therapeutic indications of mutual interest.

Management reported that the collaboration will “apply ModeX’s MSTAR platform and Regeneron’s proprietary binders to develop multispecific antibody candidates” targeting several distinct biological pathways in a single molecule.

The terms of the agreement dictate that ModeX would receive an “upfront payment of USD $7 million, and potential future product selection payments, clinical and regulatory milestone payments, and commercial milestone payments exceeding USD $200 million per selected molecule”.

The collaboration’s overall value potentially surpasses $1 billion “if multiple products from the collaboration are successful”. Additionally, ModeX is “eligible to receive tiered global net sales royalties, up to low double digits at the highest tier”. Regeneron Pharmaceuticals Inc. would lead and fund any clinical, preclinical, and commercialization activities for the products it elects to advance.

Opko Health Inc. (NASDAQ:OPK) is a biopharmaceutical and diagnostics company that provides healthcare services. Its operations are divided into the Diagnostics and Pharmaceuticals segments.

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Disclosure: None. This article is originally published at Insider Monkey.