On June 17, 2015 BioInvent International (OMXS: BINV) announces that its partnership with a leading U.S. biotechnology company advances to next phase (Press release, BioInvent, JUN 17, 2015, http://www.bioinvent.com/media-centre/press-releases/release/?ReleaseID=838A03317B4A0E87 [SID:1234506546]). The collaboration aims to discover novel therapeutic antibodies to be incorporated into the U.S. company’s CAR-T programs.
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The unnamed biotech company signed earlier this year a license to get access to BioInvent’s unique ability to discover antibodies with the antibody library n-CoDeR. The first of up to three targets covered by the agreement has now been identified and the work to develop appropriate antibodies can thus be initiated.
Under the license agreement BioInvent may receive revenue in the form of potential clinical milestone payments and royalties on future sales of any product developed as a result of the collaboration. In addition, BioInvent is in the early phase of the collaboration entitled to limited compensation for the work to identify antibodies against the first target.
"We are excited to start the identification of appropriate antibodies using our unique technology platform. We are delighted to be partnering with one of the world’s most innovative biotechnology companies on a project of such potential significance." stated Michael Oredsson, CEO of BioInvent.
This kind of agreement allow us to further strengthen BioInvent’s prominent position within the immuno-oncology field and to use our n-CoDeR library in new clinical applications. At the same time it contributes to offset costs relating to our internal development of innovative antibody-based cancer drugs", concluded Michael Oredsson.
CAR-Ts are T cells that have been removed from the body and attached through genetic engineering to an antibody fragment that recognizes a specific tumor protein. The result is a cancer immunotherapy drug with the killing power of a greatly enhanced T cell, combined with the tumor-targeting ability of an antibody.