LUND, Sweden I September 27, 2018 I BioInvent International AB (OMXS: BINV) announced today that following a global licensing agreement it has signed a manufacturing agreement with CardioVax for orticumab, previously known as BI-204. CardioVax, a privately held company in California, is advancing the treatment of inflammatory diseases with novel antibody therapeutics. Under the terms of the agreement, Bioinvent is expected to generate manufacturing revenue of approximately USD 3.0 million in the near term, mainly in 2019. Furthermore, in the longer term BioInvent is entitled to royalties on future net sales.
About BioInvent
BioInvent International AB (OMXS: BINV) is focused on the discovery and development of novel and first-in-class immuno-modulatory antibodies to treat cancer. The Company’s lead program BI-1206 is currently in a Phase 1/2 for non-Hodgkin lymphoma and chronic lymphatic leukemia. BioInvent’s pre-clinical portfolio is focused on targeting key immune suppressive cells and pathways of the tumor microenvironment, including regulatory T cells, tumor-associated myeloid cells and mechanisms of antibody drug-resistance. The Company has a strategic research collaboration with Pfizer Inc., and partnerships with Transgene, Bayer Pharma, Daiichi Sankyo, and Mitsubishi Tanabe Pharma. BioInvent generates near term revenues from its fully integrated manufacturing unit producing antibodies for third parties for research through to late-stage clinical trials. More information is available at www.bioinvent.se
SOURCE: BioInvent International
Post Views: 29
LUND, Sweden I September 27, 2018 I BioInvent International AB (OMXS: BINV) announced today that following a global licensing agreement it has signed a manufacturing agreement with CardioVax for orticumab, previously known as BI-204. CardioVax, a privately held company in California, is advancing the treatment of inflammatory diseases with novel antibody therapeutics. Under the terms of the agreement, Bioinvent is expected to generate manufacturing revenue of approximately USD 3.0 million in the near term, mainly in 2019. Furthermore, in the longer term BioInvent is entitled to royalties on future net sales.
About BioInvent
BioInvent International AB (OMXS: BINV) is focused on the discovery and development of novel and first-in-class immuno-modulatory antibodies to treat cancer. The Company’s lead program BI-1206 is currently in a Phase 1/2 for non-Hodgkin lymphoma and chronic lymphatic leukemia. BioInvent’s pre-clinical portfolio is focused on targeting key immune suppressive cells and pathways of the tumor microenvironment, including regulatory T cells, tumor-associated myeloid cells and mechanisms of antibody drug-resistance. The Company has a strategic research collaboration with Pfizer Inc., and partnerships with Transgene, Bayer Pharma, Daiichi Sankyo, and Mitsubishi Tanabe Pharma. BioInvent generates near term revenues from its fully integrated manufacturing unit producing antibodies for third parties for research through to late-stage clinical trials. More information is available at www.bioinvent.se
SOURCE: BioInvent International
Post Views: 29
