Pharma BD Deal Intelligence
Avenzo Therapeutics entered an exclusive option agreement with VelaVigo (Nov 25, 2024) for global (ex-Greater China) rights to a first-in-class Nectin-4/TROP2 bispecific ADC (AVZO-103, formerly VAC-103). Terms: upfront plus near-term option-exercise milestones up to $50M and up to $750M in development/regulatory/commercial milestones plus tiered royalties. On Sept 2, 2025 Avenzo announced it had EXERCISED its exclusive option from VelaVigo - securing global ex-Greater China development, manufacturing and commercialization rights - concurrent with FDA clearance of the AVZO-103 IND. Avenzo initiated the BEACON-1 Phase 1/2 first-in-human study (NCT07193511; 355 patients planned) on Oct 2, 2025 in locally advanced or metastatic urothelial cancer and other solid tumors. On Nov 24, 2025 the FDA granted AVZO-103 Fast Track designation for la/mUC previously treated with enfortumab vedotin (Padcev), a population with no approved ADCs.