On May 29, 2013 Alethia Biotherapeutics Inc., a privately held biotechnology company focused on developing therapeutic monoclonal antibodies (mAb) reported that it has entered into a global strategic alliance with the International Biotechnology Center (IBC) Generium to jointly develop AB-16B5, a mAB inhibitor of epithelial-to-mesenchymal transition (EMT) (Company Pipeline, Alethia Biotherapeutics, MAY 29, 2013, View Source [SID1234518222]).
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Under the terms of the alliance, Alethia and IBC Generium will collaborate for the ongoing development of AB-16B5 and, upon completion of the initial clinical study, share equally in the downstream economics in territories outside Russia and the CIS states. Alethia will receive an upfront cash payment and R&D funding to conduct the initial clinical study in Canada. In addition, to an exclusive license granted to IBC Generium for other territories, IBC Generium has also been granted the right to an exclusive license for Russia and the CIS states for which development milestones and royalties would be payable to Alethia. Further financial terms were not disclosed.
"We are very excited to conclude this global strategic alliance with IBC Generium," said Yves Cornellier, President and CEO of Alethia. "Like Alethia, IBC Generium is dedicated to improving the treatments available to cancer patients and is committing significant resources to develop innovative biological therapeutics including AB-16B5"
Mr. Daniil Talyanskiy, Chief Business Officer at IBC Generium commented: "We are very pleased to have formed this global strategic alliance with Alethia. EMT is a key contributor to both tumor invasion and the emergence of resistance to many cancer therapies. The excellent EMT inhibitor program developed at Alethia represents a unique opportunity for our company to accelerate the development of a novel therapy with potential applications in multiple cancer indications."
"This transaction with IBC Generium represents an important milestone for Alethia" commented Mrs. Ela Borenstein from BDC Capital. "It serves as recognition of the excellent preclinical development performed at Alethia to date, added Mr. Louis Lacasse of Agechem Venture Fund. Progressing to a clinical stage company through the advancement of AB-16B5 contributes to the potential for material value creation for Alethia’s shareholders."