iTeos has initially received exclusive rights to its three targets from the LICR and could potentially receive rights to future targets discovered by LICR. iTeos will leveerage LICR’s expertise in cancer biology and specifically in immunomodulation and immunotherapy, together with LICR’s experience in small molecule drug discovery and in translating its scientific discoveries into preclinical and clinical development projects. This will complement a team of 5 iTeos scientists to execute its therapeutics programs.
Initially iTeos shall be managed as a semi-virtual company with minimal infrastructure costs to ensure capital efficiency. Where possible, certain drug discovery/development activities shall be outsourced to service companies (e.g. medicinal chemistry, pharmacokinetics). iTeos will also collaborate with specialized laboratories of UCL. The resulting intellectual property portfolio will include composition of matter patents as well as those covering novel technologies and therapeutic applications. Key value inflection points for iTeos will include licensing assets to large biotech or pharmaceutical companies either immediately prior to entry into the clinic or after human proof-of-concept. This business strategy is designed to maximize upfront fees and generate long-term value through milestones payments and royalties on future net sales.