Spain-based Ona Therapeutics has licensed WuXi XDC Cayman Inc.'s (HKEX: 2268) proprietary WuXiTecan-2 exatecan-based payload-linker platform on an exclusive global basis to develop a single antibody-drug conjugate (ADC) candidate against an undisclosed target. The agreement includes an upfront payment, development, regulatory, and sales milestone payments, and tiered royalties on net sales; no aggregate deal value was disclosed.
Under the structure, Ona will combine its target-discovery capabilities with the WuXiTecan-2 platform, while WuXi XDC retains chemistry, manufacturing, and controls (CMC) development and manufacturing responsibilities through its contract research, development, and manufacturing organization (CRDMO) platform. The target has not been named, and no candidate has yet entered investigational new drug (IND)-enabling studies.
The deal marks the second collaboration between the two companies. A 2024 agreement saw Ona license technologies from WuXi XDC to support its existing ADC pipeline, which includes programs in breast and colorectal cancer.
This is also the second out-license of the WuXiTecan-2 platform within six months. In February 2026, WuXi XDC entered a collaboration with Earendil Labs on the same platform covering multiple targets, with a total potential value of up to approximately USD 885 million. The Ona deal, covering a single target at a pre-IND stage, carries a structurally similar architecture — exclusive global rights, milestone-plus-royalty economics, and retained manufacturing by WuXi XDC — but with no disclosed aggregate value.