Adimab Announces New Antibody Discovery Collaboration with Celgene Corporation
LEBANON, N.H., Aug 20, 2013 (BUSINESS WIRE) -- Adimab, LLC, a technology leader in the discovery of fully human antibodies, today announced a multi-target discovery collaboration with Celgene Corporation of Summit, NJ. Under terms of the Agreement, Adimab will use its proprietary platform to generate therapeutic antibodies against multiple targets. Celgene will have the right to develop and commercialize all therapeutic antibodies resulting from the collaboration.
"We are very pleased to announce another major pharma partnership," said Tillman Gerngross, CEO and co-founder of Adimab. "Celgene has developed a highly successful oncology and inflammation franchise, and we are excited to partner with them to support their expanding antibody-based therapeutic portfolio."
Adimab and Celgene have entered into a collaboration whereby Adimab will use its proprietary discovery and optimization platform to identify fully human antibodies against multiple targets. For each target, the Agreement grants Celgene the right to research antibodies generated during the collaboration for potential use as therapeutic products. Under the terms of the Agreement, Adimab will receive an undisclosed upfront payment. In addition, for each target, Celgene will have the option to exclusively license antibodies generated during the collaboration. If Celgene exercises its option for a particular target, Adimab would receive license fees, clinical milestones and royalties on therapeutic product sales.
"The speed and technical superiority of our platform drives all of our deal flow," said Guy Van Meter, Vice President of Business Development at Adimab. "The Adimab Platform is an extremely versatile antibody discovery and engineering tool that can be applied to a variety of different therapeutic development approaches, including IgG discovery, optimization, humanization and bispecifics."
Over the past four years, Adimab has established collaborations with multiple leading pharmaceutical companies, including Merck, Roche, Novartis, Eli Lilly, Genentech, Biogen Idec, Novo Nordisk, Gilead, Kyowa Hakko Kirin and GSK.
Adimab's integrated antibody discovery and optimization platform provides unprecedented speed from antigen to purified, full-length human IgGs. Adimab offers fundamental advantages by delivering diverse panels of therapeutically relevant antibodies that meet the most aggressive standards for affinity, epitope coverage, species cross-reactivity and developability. Adimab enables its partners to rapidly expand their biologics pipelines through a broad spectrum of technology access arrangements. For more information, visit http://www.adimab.com.
SOURCE: Adimab, LLC
Adimab, LLC. Guy Van Meter, 603-653-5775 VP of Business Development