Affimed Therapeutics and Biopharma Unit of Syngenta Enter Into Agreement to Co-develop Tandabs
HEIDELBERG, Germany, Nov. 5 /CNW/ - Affimed Therapeutics AG, a Heidelberg, Germany-based drug development company, has signed a partnership agreement with the biopharmaceutical unit of Syngenta AG of Basel, Switzerland to co-develop one of Affimed's proprietary Tandab antibodies.
Tandabs recruit the body's immune system and will therefore provide a powerful tool in fighting cancers and other disease. These molecules have been engineered so that they have four binding sites (tetravalent), two of those binding sites are for antigens on the cancer or diseased cell while the other two binding sites are specific for the immune systems killer cells. Tetravalency facilitates a very tight binding between the tumour and killer cells enabling extremely efficient destruction of the tumour cells.
Both companies believe the technology holds tremendous potential for creating more effective next-generation treatments. The parties will utilize Affimed's technology platform to identify and develop Tandabs for cancer and other indications. The activities are supported in part by a EUR 1 million BioChance Plus grant recently awarded to Affimed by the German government.
"We are excited to combine Affimed's Tandab platform with Syngenta's process development, pre-clinical and clinical expertise," said Prof. Melvyn Little, Scientific Founder and CSO of Affimed.
George Rehm, Board Member of Affimed and Partner at First Ventury, Affimed's lead investor commented: "This co-development agreement will allow us to take molecules into clinical development and share in the substantial incremental value created by demonstrating efficacy in human clinical trials prior to out-licensing."
"We were impressed by the strength of the team at Affimed, as well as their deep understanding of the antibody fragment technology, strong intellectual property position and close relationship with the German National Cancer Research Center," said Richard Jones, MD, Medical Director for Syngenta Biopharma. "This combination is typical of the kind of partner we're seeking and will allow the flexibility to move quickly and decisively to leverage the partnership."
Notes:
1. ABOUT AFFIMED
Affimed is a venture-stage, privately held company founded in May 2000 through a spin out from the German National Cancer Research Center (DKFZ). Affimed has developed an extensive library of antibodies and proprietary Tandab technology, particularly effective in attacking cancer cells. On the strength of its proprietary libraries, its unique Tandab technology, and worldwide freedom to operate in developing antibody products, Affimed concluded a Series B round of financing in March 2003, led by First Ventury Equity GmbH, and SHS Beteiligungsgesellschaft. The company is currently raising additional financing in an amount of EUR 4 Million, again with the support of First Ventury. More information at www.affimed.com
2. ABOUT SYNGENTA
Syngenta is a world-leading agribusiness committed to sustainable agriculture through innovative research and technology. The company is a leader in crop protection, and ranks third in the high-value commercial seeds market. Sales in 2003 were approximately $6.6 billion. Syngenta employs some 19,000 people in over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York (SYT).
Syngenta has set-up a dedicated biopharma unit (www.syngenta.com/biopharma) to apply its in-house capabilities and infrastructure to the development of biopharmaceuticals. The biopharma group works with trusted partners within flexible models to ensure maximum value.
Successful projects have been initiated with partners including Diversa Corporation, SemBioSys Genetics Inc., and the National Jewish Medical and Research Center. |
