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BioInvent International AB announced today that it has signed a deal with Bayer HealthCare related to the discovery and development of antibody products
LUND, Sweden | March 12, 2008 | BioInvent International AB (OMXS: BINV) announced today that it has signed a deal with Bayer HealthCare related to the discovery and development of antibody products. Under the terms of the agreement, Bayer HealthCare will have a non-exclusive research licence for the use of BioInvent´s proprietary n-CoDeR® library for the discovery of human monoclonal antibodies. BioInvent, in addition to its n-CoDeR® technology, will provide at BioInvent access to an extended antibody technology suite including BioInvent´s proprietary selection processes, streamlined robotics and Immunoglobulin transient expression technology. Bayer HealthCare will fund all such activities.
As well as undisclosed license fees, BioInvent will receive additional milestone payments and escalating royalties on sales of any products commercialised. The agreement allows for up to 14 antibody products to be developed.
The n-CoDeR® library contains approximately 2 x 1010 highly diverse fully human antibody fragments that have been created using BioInvent´s patented approach, generating antibodies with good affinities and selectivities.
Svein Mathisen, CEO of BioInvent said: "We are very pleased that another global pharmaceutical partner has recognized BioInvent´s skills and assets in the area of human antibodies. This deal further validates our technology and BioInvent is happy to add Bayer HealthCare as a global player with strong biopharmaceutical business to the list of our collaborators".
About BioInvent International AB
Biolnvent International AB listed on The Nordic Exchange (OMXS:BINV), is a research-based pharmaceutical company that focuses on developing antibody drugs. The Company is currently running innovative drug projects within the areas of thrombosis, cancer, atherosclerosis and ophthalmic diseases. In January 2007 the Company announced a major strategic alliance with American-based Genentech, Inc. in the cardiovascular field.
These projects are based on a competitive and in substance patented technology platform. The scope and strength of this platform is also utilised by partners, such as ALK-Abelló, Bayer HealthCare, ImmunoGen, OrbusNeich, Sanofi-Aventis, UCB and XOMA.
The Company, which currently has 96 employees, is located at Ideon in Lund.
SOURCE: BioInvent International AB |
