PR Newswire - Formosa Pharmaceuticals and Almac Discovery Announce Licensing Agreement for ALM-401, a First-in-Class Bispecific ADC targeting EGFR/ROR1 for the Treatment of Solid Tumors

TAIPEI, May 6, 2025 /PRNewswire/ -- Taiwan-based Formosa Pharmaceuticals ("Formosa", 6838.TW) announced that the company has entered into an exclusive licensing agreement with Almac Discovery, a Northern Ireland-based research driven drug discovery company, for exclusive rights to the commercialization of ALM-401, a first-in-class, bispecific antibody drug conjugate (ADC) for the treatment of solid tumors characterized by the dual expression of EGFR and ROR1. Almac Discovery focuses on protein homeostasis and next-generation antibody drug conjugates. Their portfolio of preclinical and clinical stage drug candidates comprises both small and large molecule modalities, and benefits from collaboration and licensing partnerships with global R&D-focused biotech and pharmaceutical organisations. The licensing agreement includes upfront payment and development milestones, with additional considerations through approval and post-commercialization.

ALM-401's core is a novel bispecific antibody engineered to be smaller in size by utilizing a single-chain architecture. This critical attribute potentially enhances epitope engagement and tumor penetration, and is designed to improve ease of manufacturing. The ADC has demonstrated durable and sustained tumor regressions in multiple solid tumor models, such as NSCLC, whilst also inducing a pronounced bystander effect to further boost overall therapeutic effect.

"Formosa Pharma is pleased to have this opportunity to bring ALM-401 into our development pipeline. This novel, next-generation ADC complements our corporate strategy and resources and promises to deliver a differentiated therapy to cancer patients worldwide. We look forward to collaborating closely with Almac Discovery in advancing this exciting program through clinical trials, commercialization, and beyond." said Dr. Erick Co, President and CEO of Formosa Pharmaceuticals.

"We are pleased to have met Formosa's exacting selection requirements for Next Generation ADC candidates," said Dr Stephen Barr, President and Managing Director of Almac Discovery. "This agreement allows the seamless progression of the molecule into clinical evaluation, driven by Formosa."

About Formosa Pharmaceuticals, Inc.

Formosa Pharmaceuticals, Inc. (6838.TW) is a clinical stage biotechnology company with primary focus in the areas of ophthalmology and oncology.  The company's flagship program, APP13007, is a novel topical formulation of the potent corticosteroid, clobetasol propionate, and was approved by the US FDA in 2024 for the treatment of post-operative inflammation and pain following ocular surgery, with multiple regional licensing partners worldwide.  The company's proprietary nanoparticle formulation technology (APNT^®), through which APP13007 was developed, improves the dissolution and bioavailability of APIs for topical, oral, and inhaler administration.  For more details about Formosa Pharma, visit www.formosapharma.com.

About Almac Discovery:

Almac Discovery has drug discovery facilities in Belfast, Edinburgh and Manchester. It is led by an experienced team with a track record in delivering successful pre-clinical programmes. Internal capabilities include discovery biology and bioinformatics, protein engineering, medicinal chemistry and translational sciences. Almac Discovery utilises its unique blend of protein engineering and small molecule capabilities to create and develop First in Class and Best in Class NCEs through to the pre-clinical candidate/IND-ready stages, after which it seeks to collaborate with partners to accelerate their development.

The Almac Discovery business benefits from collaboration and licensing partnerships with global R&D-focused biotech and pharmaceutical organisations.

For more details about Almac Discovery, visit www.almacgroup.com/discovery.