BioInvent, Daiichi Sankyo sign antibody pact

Sweden's BioInvent International has inked a license and discovery agreement with Japanese drugmaker Daiichi Sankyo to develop therapeutic antibodies against multiple targets.

Under the terms of the agreement, Daiichi Sankyo, which will fund all research work, will have access to BioInvent's discovery and development technology platform and in-house antibody expertise. BioInvent, which has therapeutic antibodies to treat thrombosis, atherosclerosis and cancer in preclinical and clinical development, will secure certain co-promotion rights in Scandinavia and Baltic countries.

BioInvent also will receive fees for its antibody library, as well as success-based milestone payments. It also is entitled to royalties on any commercialized products and will have the opportunity for selective co-promotion.

"We are pleased that our technology platform and expertise continue to attract the attention and long term commitment of big pharma." BioInvent President and CEO Svein Mathisen says in a statement. "BioInvent is established as a trusted partner for the discovery and development of therapeutic antibodies, and with this agreement we are continuing to grow our presence and recognition in the Japanese market."

- check out the BioInvent release