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news.Formation Bio has acquired the global rights, excluding in Greater China, to LNK01006, a highly selective tyrosine kinase 2 (TYK2) inhibitor from Lynk Pharmaceuticals.
LNK01006 is a next-generation CNS-penetrant. Credit: MY STOCKERS/Shutterstock.com.
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This next-generation central nervous system (CNS)-penetrant will be developed by Bleecker Bio, a newly established subsidiary of Formation.
Lynk Pharmaceuticals will obtain a minority equity stake in Bleecker, along with an upfront payment and potential milestone payments that could reach $605m.
The deal also includes tiered royalties on any future sales of the asset.
US-based investment fund Pacific Bridge is participating as a minority joint investor in Bleecker.
The asset recently received US Food and Drug Administration (FDA) investigational new drug (IND) clearance, allowing the commencement of first-in-human trials in the US.
Formation intends to begin a Phase I trial in the first half of 2026, as part of its strategy to expand its portfolio of clinical-stage assets.
LNK01006 offers selective inhibition of TYK2-mediated cytokine signalling and features a pharmacological profile tailored for central immune system modulation.
The pharmacologic profile of the therapy may allow for the exploration of indications where central or compartmentalised immune pathways are considered important.
Formation Bio chief business officer David Steinberg stated: “This asset represents a prime example of what we call our ‘Known In New’ strategy of applying validated mechanisms to novel areas of high unmet need.
“Leveraging world class human expertise, robust clinical data sets and homegrown, state-of the-art AI tools, we’ve developed deeply grounded hypotheses around novel therapeutic applications of clinically de-risked asset classes.”
Lynk Pharmaceuticals is a clinical-stage company focused on discovering and developing medicines for immunology and inflammatory diseases.
Lynk Pharmaceuticals CEO Zhao-Kui (ZK) Wan stated: “We are excited to partner with Formation Bio to advance LNK01006 into the clinic.
“Formation’s experienced clinical development team and AI-enabled capabilities provide the ideal environment to translate this compound’s scientific potential into meaningful patient impact.”
