Exclusive Summary

• First-in-Class Bispecific ADC: A novel CDH17 and CEACAM5 dual-targeting bispecific antibody drug conjugate (with a TOP1 inhibitor payload) utilizing a proprietary, highly stable hydrophilic linker, designed for high-grade colorectal cancer (CRC).
• Addresses Critical Unmet Needs: Targets a severe market gap for CRC patients who are resistant to immunotherapy (~95%) and lack effective options in the 3rd-line and beyond (where current standard-of-care ORR is extremely poor at 1-10.8%).
• Highly Differentiated & Best-in-Disease Potential: Dual-targeting significantly broadens patient coverage (capturing >91% of populations with various expression levels), overcomes single-target drug resistance, and demonstrates significantly stronger tumor inhibition and lower off-target toxicity than clinical-stage competitor M9140 in preclinical models.
• Prime Asset for Global Partnership: Currently in the IND-Enabling stage with highly compelling preclinical head-to-head proof-of-concept data, making it an extremely attractive early-stage asset for MNCs looking to strategically expand their advanced GI oncology and innovative ADC pipelines.

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