BioInvent International announced that it has signed a license agreement with Mitsubishi Tanabe Pharma Corporation for the development of antibodies, up to five therapeutic targets, from BioInvent’s n-CoDeR® library
Lund, Sweden July 31, 2009 BioInvent International AB (OMXS: BINV) today announces that it has signed a license agreement with Mitsubishi Tanabe Pharma Corporation for the development of antibodies, up to five therapeutic targets, from BioInvent’s n-CoDeR® library. Under the terms of the agreement, Mitsubishi Tanabe will be granted access to BioInvent’s discovery and development technology platform.
BioInvent will receive an undisclosed upfront access fee, annual maintenance fees as well as royalties on commercialised products and success-based milestone payments. The agreement follows on an existing research license and a feasibility study concluded earlier this year.
The n-CoDeR® library contains more than 20 billion (2 x 1010) highly diverse, fully human antibody fragments that have been created using BioInvent’s patented approach, generating antibodies with high affinity and selectivity.
Svein Mathisen, CEO of BioInvent, commented, “The signing of a second agreement for our n-CoDeR® library by a major Japanese pharmaceutical company validates further our proprietary antibody library. We look forward to working with Mitsubishi Tanabe and expanding our presence in the growing Japanese market.”
Legal disclaimer
This press release contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their very nature, in the same way as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios described in this press release.
Information disclosed in this press release is provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 8.30 a.m. CET, on 31 July, 2009.
About BioInvent
BioInvent International AB, listed on the NASDAQ OMX Stockholm (BINV), is a research-based pharmaceutical company that focuses on developing antibody drugs. The Company is currently running innovative drug projects within the areas of thrombosis, cancer and atherosclerosis. The Company has signed various strategic alliances around these product candidates and is developing them in collaboration with partners including Genentech, Roche and ThromboGenics.
These projects are based around a competitive and in substance patented antibody development platform. The scope and strength of this platform is also utilised by partners, such as ALK-Abelló, Bayer HealthCare, ImmunoGen, OrbusNeich, Sanofi-Aventis, UCB and XOMA. More information is available at www.bioinvent.com.
About Mitsubishi Tanabe Pharma Corporation
Mitsubishi Tanabe Pharma Corporation (MTPC) is a research-driven global biopharmaceutical leader based in Japan, specializing in research, development and marketing of globally competitive pharmaceutical products focused on cardiovascular and metabolic disorders, and immune and inflammatory diseases. In particular, MTPC strategically focuses on drug discovery in the field of diabetes including a broad range of clinical states from metabolic risks (obesity/dyslipidemia) to complications (renal dysfunction/dialysis) and stroke including the total range of disease phases such as acute phase, convalescence and maintenance. MTPC is currently developing two Phase III clinical candidates in the U.S. and EU: MCI-196 for hyperphosphatemia and MP-146 for CKD.
MTPC, established through the merger of Tanabe Seiyaku Co., Ltd. and Mitsubishi Pharma Corporation in October 2007, is committed to protecting the health of people around the world and contributing to comfortable lifestyles through creating pharmaceuticals.
For more information, please visit the web site at www.mt-pharma.co.jp.
SOURCE: BioInvent International
Post Views: 50
BioInvent International announced that it has signed a license agreement with Mitsubishi Tanabe Pharma Corporation for the development of antibodies, up to five therapeutic targets, from BioInvent’s n-CoDeR® library
Lund, Sweden July 31, 2009 BioInvent International AB (OMXS: BINV) today announces that it has signed a license agreement with Mitsubishi Tanabe Pharma Corporation for the development of antibodies, up to five therapeutic targets, from BioInvent’s n-CoDeR® library. Under the terms of the agreement, Mitsubishi Tanabe will be granted access to BioInvent’s discovery and development technology platform.
BioInvent will receive an undisclosed upfront access fee, annual maintenance fees as well as royalties on commercialised products and success-based milestone payments. The agreement follows on an existing research license and a feasibility study concluded earlier this year.
The n-CoDeR® library contains more than 20 billion (2 x 1010) highly diverse, fully human antibody fragments that have been created using BioInvent’s patented approach, generating antibodies with high affinity and selectivity.
Svein Mathisen, CEO of BioInvent, commented, “The signing of a second agreement for our n-CoDeR® library by a major Japanese pharmaceutical company validates further our proprietary antibody library. We look forward to working with Mitsubishi Tanabe and expanding our presence in the growing Japanese market.”
Legal disclaimer
This press release contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their very nature, in the same way as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios described in this press release.
Information disclosed in this press release is provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 8.30 a.m. CET, on 31 July, 2009.
About BioInvent
BioInvent International AB, listed on the NASDAQ OMX Stockholm (BINV), is a research-based pharmaceutical company that focuses on developing antibody drugs. The Company is currently running innovative drug projects within the areas of thrombosis, cancer and atherosclerosis. The Company has signed various strategic alliances around these product candidates and is developing them in collaboration with partners including Genentech, Roche and ThromboGenics.
These projects are based around a competitive and in substance patented antibody development platform. The scope and strength of this platform is also utilised by partners, such as ALK-Abelló, Bayer HealthCare, ImmunoGen, OrbusNeich, Sanofi-Aventis, UCB and XOMA. More information is available at www.bioinvent.com.
About Mitsubishi Tanabe Pharma Corporation
Mitsubishi Tanabe Pharma Corporation (MTPC) is a research-driven global biopharmaceutical leader based in Japan, specializing in research, development and marketing of globally competitive pharmaceutical products focused on cardiovascular and metabolic disorders, and immune and inflammatory diseases. In particular, MTPC strategically focuses on drug discovery in the field of diabetes including a broad range of clinical states from metabolic risks (obesity/dyslipidemia) to complications (renal dysfunction/dialysis) and stroke including the total range of disease phases such as acute phase, convalescence and maintenance. MTPC is currently developing two Phase III clinical candidates in the U.S. and EU: MCI-196 for hyperphosphatemia and MP-146 for CKD.
MTPC, established through the merger of Tanabe Seiyaku Co., Ltd. and Mitsubishi Pharma Corporation in October 2007, is committed to protecting the health of people around the world and contributing to comfortable lifestyles through creating pharmaceuticals.
For more information, please visit the web site at www.mt-pharma.co.jp.
SOURCE: BioInvent International
Post Views: 50
