On July 20, 2021 Paragon Therapeutics, a biotechnology company dedicated to discovering and developing best-in-class antibodies for a range of human diseases, reported a joint venture with FairJourney Biologics S.A. (FJB) and IONTAS Limited (IONTAS), leaders in the discovery and optimization of VHH fully human antibodies. Founded in 2021 by Fairmount Funds Management LLC ("Fairmount"), the joint venture will harness IONTAS’ proprietary mammalian display technology and explore diverse panels of novel antibody candidates with the potential to advance wholly owned candidates into the Paragon Therapeutics discovery pipeline.

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"Through Fairmount, we are excited to establish and advance the joint venture with FairJourney Biologics, a true innovator in antibody discovery," said K. Evan Thompson, PhD., Chief Operating Officer, Paragon Therapeutics. "We look forward to partnering our skills with the capabilities of FJB/IONTAS to identify potential next-generation candidates, which serves as an important step forward in fueling our pipeline of best-in-class antibody therapies."

Under the terms of the agreement, FJB and IONTAS will provide Paragon Therapeutics with access to IONTAS’ novel mammalian display technology to generate a range of therapeutic antibody leads while selecting for key attributes with the potential to address clinically proven targets in novel ways. The collaboration will also provide a dedicated full-time FJB/IONTAS team assigned to the project.

"We are excited to collaborate with Paragon Therapeutics in the joint venture to discover novel, best-in-class antibody therapies," said Dr. António Parada, Chief Executive Officer, FairJourney Biologics and IONTAS. "Our cutting-edge mammalian display technology enables the identification of untapped applications to generate a diverse panel of antibodies with the goal of reaching patients in need."