• Endeavor obtains exclusive worldwide rights to Hummingbird Bioscience’s anti-HER3 ADC to be developed for patients with HER3-expressing tumors
• Hummingbird Bioscience to receive upfront and milestone payments up to $430 million, plus royalties, from Endeavor BioMedicines
• Investigational New Drug (IND) application planned in first half of 2024

The license agreement provides Endeavor with exclusive rights to HMBD-501, a next-generation HER3-targeted ADC with an exatecan payload that has been optimized for safety and efficacy. Under the terms of the license, Hummingbird Bio will be eligible to receive upfront and milestone payments up to $430 million, plus royalties on net sales.
 
“This exclusive license with Hummingbird Bio provides Endeavor with a potential best-in-class HER3-ADC, with the opportunity to treat a large number of patients in multiple tumor types,” said John Hood, Ph.D., Co-Founder, CEO and Chairman of Endeavor. “HER3 is more broadly expressed on tumors than HER2 and is expressed on tumors that do not express HER2. This next generation ADC has the potential to address significant unmet clinical needs in areas left behind by HER2 agents.”
 
HMBD-501 is a differentiated ADC generated by Hummingbird Bio’s proprietary antibody discovery and engineering platform and key state-of-the-art ADC technologies, enabling a potentially enhanced efficacy and safety profile compared to previous generation ADCs. HMBD-501 binds a novel epitope on the HER3 receptor, such that binding is unaffected by NRG1 (HER3 ligand) levels, allowing binding to HER3-expressing tumors even in high ligand contexts.
 
“Hummingbird Bio has designed HMBD-501 to have a wider therapeutic index than current HER3 ADCs, maximizing the potential clinical benefit for patients, and we are delighted that Endeavor has recognized the potential of this ADC built with our proprietary antibody technology,” said Piers Ingram, Ph.D., Co-Founder and CEO of Hummingbird Bio. “We are pleased to license HMBD-501 to the experienced Endeavor team to bring the molecule into the clinic and a step closer to benefiting patients.”