Oncocross Signs ADC Co-Research Agreement With Aptis Worth 2.8 Billion Won

Oncocross has signed a co-research and development agreement with Aptis for antibody-drug conjugate (ADC) or bispecific antibody-drug conjugate (BsADC) candidates.

Oncocross disclosed on the 1st that it had entered into a co-research and development agreement with Aptis Co. worth a total of 2.8 billion won in upfront and milestone payments.

Under the agreement, Oncocross will identify and validate new targets and derive and produce antibody candidates. Aptis will finalize ADC or BsADC candidates through antibody assembly and payload conjugation, and lead subsequent development, including preclinical and clinical development, as well as commercialization.

Intellectual property related to antibodies derived by Oncocross under the program will be transferred to Aptis when the Phase 1 clinical milestone is paid.

The total of 2.8 billion won in upfront and milestone payments combines the upfront payment and milestones for each research and development stage; value-added tax is additional. This amount represents 755.82% of Oncocross's 2025 revenue of 370.46 million won.

However, milestone revenue, excluding the upfront payment, may vary depending on the progress of research and development and whether each payment condition is met. If the conditions are not met, Oncocross may not receive some of the amount, or the agreement may be terminated.

If Aptis licenses program-related rights to an unaffiliated third party, Oncocross will receive a separate share of the proceeds. This amount is not included in the total upfront and milestone payments, and details of the terms are not being disclosed under confidentiality obligations.

The agreement term runs from this date until all rights and obligations of both parties concerning the program have been fulfilled or extinguished.