ModeX, NextPoint, and Shinobi Advocate for a Shift Towards Academic Collaboration in Novel Drug Development
Funding Challenges are Reshaping Collaboration Models
This FierceBiotech article is based on a panel discussion from the 2026 CMO Summit 360°, highlighting the need for biotech companies and academia to redesign their collaborative approaches in light of decreasing research funding and alternative funding sources. The panel included representatives from OPKO Health (OPK) subsidiary ModeX Therapeutics, NextPoint Therapeutics, Shinobi Therapeutics, and Boston University. The session focused on connecting candidate discovery, translational research, and clinical development capabilities into a unified operating system, rather than announcing specific licensing agreements. Therefore, the extension of the joint research between AbbVie (ABBV) and the University of Chicago, which was included in the original draft, is not a central case study in this article.
Academic Technologies are Increasingly Translating into Clinical Pipelines
ModeX, a clinical-stage biotech fully owned by OPKO, develops multispecific antibodies based on academic and government research experience. MDX2001, a quad-specific T-cell engager targeting c-Met, TROP2, CD3, and CD28 simultaneously, has entered a Phase 1/2a clinical trial (NCT06239194) for solid tumors, and MDX2301, a bispecific antibody targeting the SARS-CoV-2 spike protein, aims to neutralize all known variants and is scheduled to begin Phase 1 dosing in April 2026. NextPoint leverages the B7-H7/HHLA2 immune evasion axis identified in academia to develop NPX372, a B7-H7×CD3 bispecific T-cell engager, and NPX125, a B7-H7 antibody-drug conjugate (ADC). Shinobi's NJA-001 is a GPC3-positive, HLA-A24 solid tumor-targeting, immune-evasive induced pluripotent stem cell (iPSC)-derived CD8 alpha-beta T-cell therapy in the preclinical stage, with hepatocellular carcinoma, colorectal cancer, and non-small cell lung cancer as target indications.
The Benchmark is Established Commercial Immunotherapies
These programs must surpass the established benchmarks of immune checkpoint inhibitors like Merck & Co. (MRK)'s Keytruda/pembrolizumab, which blocks PD-1, and Bristol Myers Squibb (BMY)'s Opdivo/nivolumab. Keytruda, which received FDA accelerated approval on September 4, 2014, has since expanded to multiple cancer types. Novel academic targets must demonstrate efficacy in combination with PD-1/PD-L1 therapies and identify biomarkers to select patients who do not respond to these treatments. In the cell therapy space, approved CAR-T therapies like Gilead Sciences (GILD)'s Yescarta/axicabtagene ciloleucel and Bristol Myers Squibb's Breyanzi/lisocabtagene maraleucel have set the standard in hematological malignancies, but challenges remain in solid tumors regarding tumor penetration, immune rejection, and manufacturing consistency. Shinobi's allogeneic iPSC platform aims to address all three of these issues simultaneously, which is key to its clinical differentiation.
The Market is Large, but Value Creation Depends on Clinical Validation
Grand View Research estimates the global cancer immunotherapy market at USD 153.27 billion in 2025 and USD 166.36 billion in 2026, with a projected USD 305.8 billion in 2033. This scale provides a strong economic incentive to secure early access to academic source technologies. However, the valuation of preclinical candidates and Phase 1 assets will only be reassessed when safety, recommended dosage, and biomarker-specific response data become available. ModeX's separate EBV vaccine agreement with Merck demonstrates how academic and public research can be translated into industrial capital, with an upfront payment of USD 50 million, development and commercial milestone payments of up to USD 860 million, and tiered royalty rates in the high single-digit to low double-digit range. However, this panel discussion did not announce any new upfront payments, equity investments, milestone payments, or royalty agreements.
With the global cancer immunotherapy market projected to reach USD 166.36 billion in 2026, ModeX's MDX2001 is in Phase 1/2a, and NextPoint's NPX372/NPX125 and Shinobi's NJA-001 are in early clinical or preclinical stages, testing the commercial potential of academic source technologies. In the short term, the importance of collaborative development, option agreements, and non-dilutive funding to reduce reliance on NIH research grants and venture capital is increasing, although no new deal values were presented in this discussion. For researchers, this means incorporating biomarkers, toxicity, and manufacturability into candidate selection and clinical trial design. In the medium to long term, value will depend on improving response rates, durability, safety, and manufacturing costs compared to Keytruda/pembrolizumab and Opdivo/nivolumab (PD-1 standard of care) and approved CAR-T therapies like Yescarta/axicabtagene ciloleucel, using real-world patient data. From an investment perspective, this event is more of a watchlist exercise for identifying platform companies with academic networks and early clinical execution capabilities than a catalyst for deal closings.