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BioInvent Announces Cross-license of Antibody Technologies with XOMA
[2003-11-25 9:05]
Lund, Sweden: BioInvent International AB (SAX:BINV), the antibody development company listed on the O-list of the Stockholm Exchange, announced today that it has entered into a cross-license agreement for antibody related technologies with XOMA.
Under the agreement, BioInvent receives rights to use XOMA's antibody expression technology for developing antibody products for itself and qualifying partners. Rights can be extended by BioInvent to utilise XOMA’s technology in the commercial manufacture of such products for itself. In addition, XOMA receives the rights to use BioInvent's antibody library known as n-CoDeRÒ , in its research programmes, with certain rights to develop antibodies into therapeutics and diagnostics. BioInvent will make an initial license payment to XOMA. The agreement allows for both parties to earn future license payments if products are developed based on the other company?s technology.
Svein Mathisen, President and CEO of BioInvent, comments:
"We are pleased to gain access to XOMA's expression technology as this will add to our ability to build a strong portfolio of antibody based therapeutics. Furthermore, we are pleased with the confidence XOMA has shown in our technology through their choice to license n-CoDeRÒ for use in their research programmes."
"We are pleased to enter into this phage-based antibody related licensing arrangement with BioInvent, a company with excellent capabilities in the important field of antibody drug discovery," said John L. Castello, XOMA's chairman, president and chief executive officer. "We are pleased to have access to their n-CoDeRÒ Library, and believe that this new license further validates the fundamental position our antibody expression technology holds in the phage display arena."
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For more information
BioInvent International AB
Svein Mathisen Cristina Glad
President and CEO Executive Vice President
Telephone: +46 (0)46 286 85 67 Telephone: +46 (0)46 286 85 51
Mobile: +46 (0)708-97 82 13 Mobile: +46 (0)708 16 85 70
E-mail: svein.mathisen@bioinvent.com E-mail: cristina.glad@bioinvent.com
Legal disclaimer
This press release contains statements relating to future scenarios. Research and development activity within the biotech field is associated with risk and/or uncertainty. With this in mind, the actual outcome may deviate significantly from what is described in this press release.
The description of the above-mentioned agreement does not claim to be comprehensive, but only to provide a summary of its main points.
Background information:
BioInvent International AB, listed on the O-list of the Stockholm Exchange (Stockholmsbörsen), is an innovative research and development company active in the biotechnology field. The Company develops antibody-based drug candidates against diseases where there is a significant unmet medical need. BioInvent is currently conducting proprietary drug projects in major disease areas such as HIV, atherosclerosis, cancer and arthrosis. The Company?s technology platform ? the n-CoDeR® antibody library and a production facility approved for the manufacture of biological drugs ? provides the necessary conditions for the development of antibody-based drugs. The technology platform is also used for the development and manufacture of drugs on behalf of the Company?s partners. BioInvent?s partners include Antisoma, Celltech, GlaxoSmithKline Biologicals, Igeneon, ImmunoGen and Pharmacia Diagnostic. The Company has 104 employees and operates in the Ideon Research Park in Lund... |
