TORONTO, Canada and ABERDEEN, UK, Dec. 10 /CNW/ - Viventia Biotech, Inc., of Toronto, Canada and Biovation Limited of Aberdeen, UK, a Merck KGaA group company, today announce the signing of a research agreement under which Biovation will apply its proprietary technology, DeImmunisation(TM), to one of Viventia's novel cytotoxic proteins. Biovation will receive research revenues, and in the event Viventia pursues further development of the protein could earn license fees, potential milestone payments and royalties on future product sales.
"We are excited to be entering into a collaboration with Viventia, which we consider to be one of Canada's leading biotech companies," said Dr. Frank Carr, President and Chief Executive Officer of Biovation. "We are particularly excited to be working with Viventia on the creation of novel biopharmaceuticals for the treatment of cancer."
Dr. Anthony Schincariol, President and CEO, Viventia Biotech Inc. said, "Biovation's proprietary DeImmunisation(TM) technology increases the clinical potential of antibody and protein therapeutics by eliminating or reducing the T-cell response caused when the therapeutic molecule is recognized as foreign by the patient's immune system. Utilizing this approach, the Biovation technology strengthens our Armed Antibodies(TM) strategy which can deliver anti-cancer payloads directly to cancer sites." Dr. Nick Glover, Vice President, Corporate Development, Viventia Biotech commented further that, "Viventia believes that, once DeImmunised, this novel cytotoxic protein could form the cornerstone of our Armed Antibodies(TM) arsenal, and has the potential to facilitate a new generation of anti-cancer therapeutics."
Biovation's DeImmunisation(TM) technology identifies portions of the therapeutic antibody or protein that could generate an immune response. The potentially immunogenic region is then removed from the molecule by single amino acid substitutions, thus eliminating or reducing the therapeutic antibody or protein's immunogenicity and increasing its safety. This can be done without compromise to efficacy.
Background on Viventia Biotech, Inc.:
Viventia Biotech Inc. is a publicly traded Canadian based biotechnology company developing innovative targeted therapeutics based upon the human immune response to cancer. Through its Hybridomics(TM) discovery platform and ImmunoMine(TM) screening technology, the Company is focused on developing "Totally Human" monoclonal antibodies as targeted therapeutics, under its Armed Antibodies(TM) programme, to fight multiple forms of cancer. Viventia Biotech Inc. trades on the Toronto Stock Exchange under the trading symbol "VBI".
About Viventia's Armed Antibodies(TM):
The Armed Antibodies(TM) platform provides a rational vehicle to leverage the selective targeting properties of Viventia's monoclonal antibodies as payload carriers to deliver potent cytotoxic (cancer killing) agents directly to cancer cells. Several strategies exist to leverage MAbs as anti-cancer agents but some are unproven and others difficult to commercialize. As a consequence, Viventia has chosen to develop a proprietary position in the field of cytotoxic payload delivery. The Armed Antibodies(TM) programme employs state-of-the-art antibody engineering to generate custom-tailored molecules with superior anti-cancer drug properties. Armed Antibodies(TM) offers the potential to deliver more potent treatments that will eradicate tumors while sparing the patient. It is anticipated that Viventia's first candidates from the Armed Antibodies(TM) strategy will enter clinical trials in early 2003.
Additional information about Viventia is available at www.viventia.com
Background on Biovation Ltd.:
Biovation is a UK-based antibody and protein engineering company that partners its proprietary DeImmunisation(TM) technology with third parties to eliminate or reduce immunogenicity from antibody and protein-based biologics. All antibodies and proteins, even of human origin, can potentially cause an adverse immune response when administered to patients. DeImmunisation(TM) eliminates that risk by identifying and removing potentially immunogenic sequences of the therapeutic molecule, while retaining efficacy. Since 1998, Biovation has established collaborations with numerous companies in the US, Europe, Asia and Australia. Biovation is a wholly-owned subsidiary of Merck KGaA and operates as an independent company within the Merck Group.
Additional information about Biovation is available at www.biovation.co.uk |
