Duality Biologics Announces License Agreement of its Next-generation ADC platform with Adcendo

Duality to grant license of DITAC (Duality Immune Toxin Antibody Conjugates) platform to Adcendo for its lead uPARAP ADC program

Duality to receive upfront payment,development,regulatory and commercial milestones,and tiered royalties

Collaboration based on synergies between Adcendo and Duality in generating breakthrough ADCs in hard-to-treat cancers reflecting validation and recognition of Duality ADC technology platform

PRINCETON,N.J.,SHANGHAI and SUZHOU,China,Jan. 5,2023 -- Duality Biologics ("Duality"),a clinical-stage biotech company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers and autoimmune diseases,today announced a license agreement withAdcendo ApS ("Adcendo"),a biotech company focused on the development of breakthrough ADCs for the treatment of underserved cancers. Under the terms of this agreement,Adcendo will be granted the license of Duality's proprietary DITAC (Duality Immune Toxin Antibody Conjugates) platform for its lead uPARAP-ADC program in mesenchymal cancers. Both parties are discussing to expand the license to cover additional targets selected by Adcendo. The DITAC platform is designed to generate ADCs with superior safety profiles,sustainable payload delivery and release in tumors,and efficient bystander killing of antigen low and negative cells.

John Zhu,CEO of Duality,said:"Duality is dedicated to becoming a leading next-generation ADC company. The clinical assets built upon our DITAC platform show encouraging initial efficacy and safety results in patients. We are very glad to work with Adcendo on breakthrough ADC medicines and believe the collaboration reflects the mutual recognition of each party's unique strengths in ADC discovery and development. We look forward to supporting Adcendo with the global development of innovative ADC drugs."

Michael Pehl,CEO of Adcendo,said:"We are very pleased to be partnering with Duality as we develop breakthrough ADCs for the treatment of underserved cancers. We believe that Duality,through its DITAC platform,has clearly brought linker-payload technologies to the next level and we are very much looking forward to collaborating closely and developing ADCs with a superior safety and efficacy profile for cancer patients in need."

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About Duality Biologics

Duality Biologics is a clinical-stage biotech company focused on discovering and developing a pipeline of antibody-drug conjugates (ADCs) targeting cancers and autoimmune diseases. Leveraging its DITAC (Duality Immune Toxin Antibody Conjugates) and DIMAC (Duality Immune Modulating Antibody Conjugates),Duality is developing more than 10 ADCs at clinical and preclinical stage.

About Adcendo ApS

Adcendo ApS is developing breakthrough antibody-drug conjugates (ADCs) for the treatment of underserved cancers. In 2021,the company raised its Series A round of EUR 51 million,investors include Novo Holdings,Ysios Capital,RA Capital Management,HealthCap and Gilde Healthcare.

CONTACT: info@dualitybiologics.com

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