Alligator Bioscience announced an expansion to its research collaboration and license agreement with Orion Corporation, a global pharmaceutical company based in Finland, to discover and develop together new bispecific antibody cancer therapeutics. The collaboration has been expanded to add the development of a second bispecific antibody using Alligator's proprietary bispecific RUBYTM platform, where Alligator will provide validated monospecific binders for one target and Orion will do the same for the other target. Under the initial agreement signed in 2021, Alligator employs its proprietary phage display libraries and RUBYTM bispecific platform to develop immuno-oncology product candidates based on design criteria identified by Orion.

Alligator remains eligible for development, approval and sales milestone payments of up to 469 million across the three potential programs, in addition to royalties if Orion exercises its options to continue development and commercialization of the resulting product candidates.