LUND, Sweden I July 2, 2013 I BioInvent International AB (OMXS: BINV) today announces that it has signed an extension to its 2009 license agreement with Mitsubishi Tanabe Pharma Corporation for the development of antibodies from BioInvent’s n-CoDeR® library. Under the terms of the extension, Mitsubishi Tanabe will continue to have access to BioInvent’s discovery and development technology platform for a further two years and can develop up to eight antibody programmes.
BioInvent will receive an undisclosed initial fee plus annual maintenance fees and success-based milestone payments as well as royalties on commercialized products.
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.
Cristina Glad, CEO of BioInvent, commented, “The signing of an extension for our n-CoDeR® technology by Mitsubishi Tanabe we believe underscores the continuing value placed on it by our collaborators and industry. The agreement is an example of our strategy to build partnerships that contribute to the funding of our current business and where our internal projects create additional value potential. We look forward to continuing to work with Mitsubishi Tanabe and building on our excellent relationship.”
About BioInvent
BioInvent International AB, listed on the NASDAQ OMX Stockholm (BINV), is a research-based pharmaceutical company focused on discovery and development of innovative antibody-based drugs against cancer. The Company’s pipeline currently includes three product candidates for the treatment of cancer.
The Company’s competitive position is underpinned by n-CoDeR®, a proprietary antibody development platform. The scope and strength of this platform is also used to develop antibody-based drugs in collaboration with partners who finance the development of the new drug, and provide BioInvent the right to milestone payments and royalties on sales. These partners include Bayer HealthCare, Daiichi Sankyo, Mitsubishi Tanabe and Servier. More information is available at www.bioinvent.com.
SOURCE: BioInvent
Post Views: 242
LUND, Sweden I July 2, 2013 I BioInvent International AB (OMXS: BINV) today announces that it has signed an extension to its 2009 license agreement with Mitsubishi Tanabe Pharma Corporation for the development of antibodies from BioInvent’s n-CoDeR® library. Under the terms of the extension, Mitsubishi Tanabe will continue to have access to BioInvent’s discovery and development technology platform for a further two years and can develop up to eight antibody programmes.
BioInvent will receive an undisclosed initial fee plus annual maintenance fees and success-based milestone payments as well as royalties on commercialized products.
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.
Cristina Glad, CEO of BioInvent, commented, “The signing of an extension for our n-CoDeR® technology by Mitsubishi Tanabe we believe underscores the continuing value placed on it by our collaborators and industry. The agreement is an example of our strategy to build partnerships that contribute to the funding of our current business and where our internal projects create additional value potential. We look forward to continuing to work with Mitsubishi Tanabe and building on our excellent relationship.”
About BioInvent
BioInvent International AB, listed on the NASDAQ OMX Stockholm (BINV), is a research-based pharmaceutical company focused on discovery and development of innovative antibody-based drugs against cancer. The Company’s pipeline currently includes three product candidates for the treatment of cancer.
The Company’s competitive position is underpinned by n-CoDeR®, a proprietary antibody development platform. The scope and strength of this platform is also used to develop antibody-based drugs in collaboration with partners who finance the development of the new drug, and provide BioInvent the right to milestone payments and royalties on sales. These partners include Bayer HealthCare, Daiichi Sankyo, Mitsubishi Tanabe and Servier. More information is available at www.bioinvent.com.
SOURCE: BioInvent
Post Views: 242
