CORRECTING and REPLACING Adimab Extends Platform Partnership with Novo Nordisk
LEBANON, N.H.--(BUSINESS WIRE)--Jan 14, 2020--
Headline of release should read: Adimab Extends Platform Partnership with Novo Nordisk (instead of Extenadimds).
The corrected release reads:
ADIMAB EXTENDS PLATFORM PARTNERSHIP WITH NOVO NORDISK
Adimab, LLC, the global leader in the discovery and optimization of fully human monoclonal and bispecific antibodies, today announced that it has extended its Adimab Platform license agreement with Novo Nordisk for the discovery and optimization of antibody-based protein therapeutics. This agreement extends an ongoing partnership between the two companies that began in 2013.
Under the terms of the agreement, Novo Nordisk will have continued access to a unique human antibody library and will receive a license to the Adimab Platform for use on an unlimited number of targets. Novo Nordisk also has the ability to access improvements to the Adimab Platform, including new antibody libraries, software upgrades, and novel protein engineering capabilities. Adimab will receive an undisclosed extension fee as well as development and sales milestones plus tiered royalties on the annual net sales.
“Almost all of our partners have access to in vivo antibody discovery platforms, and Novo Nordisk is no exception. That said, it is becoming increasingly clear that for many new targets you need an in vitro approach as well as sophisticated protein engineering capabilities,” said Tillman Gerngross, Chief Executive Officer and Co-Founder at Adimab. “Novo Nordisk has now used the Adimab Platform for over five years and this extension validates that trend in our industry.”
“Adimab has demonstrated the value of its unique platform and it is important for Novo Nordisk to secure long-term access to its technology,” added Lars Fogh Iversen, Senior Vice President, Global Research Technologies, Novo Nordisk. “Novo Nordisk is committed to protein-based therapeutics and access to premier tools is essential to advancing the highest quality therapeutic programs.”
Adimab Platform Transfer Program
Since 2013, Adimab has entered into broad platform transfer partnerships with six major pharmaceutical companies: GSK, Biogen, Novo Nordisk, Merck, Lilly and, most recently, Takeda. The base structure of these partnerships obligates Adimab to provide unique library diversity to each partner and provide training for each partner to discover and engineer IgGs, bispecifics, and non-IgG modalities. Adimab provides continued support through the life of these partnerships, as well as various mechanisms to access platform improvements. Platform transfer partners typically attend and contribute to the biennial Adimab User Conferences. At this “power user” conference, partners discuss various applications and advances to the platform and share best practices. To date, more than 100 therapeutic programs have been generated under these platform transfer partnerships.
Adimab is the leading technology provider for antibody-based drug discovery, following a business model that focuses solely on its partners and not on developing an internal product pipeline. Since 2009, Adimab has partnered with over 70 pharmaceutical and biotechnology companies, generating more than 315 therapeutic programs, over 30 clinical programs, and its first approved product. The Adimab technology has been transferred and implemented at Biogen, GSK, Lilly, Merck, Novo Nordisk, and Takeda. Funded discovery partners include leading pharmaceutical companies, such as Boehringer Ingelheim, Celgene (which is now a Bristol-Myers Squibb company), Genentech, Gilead, Kyowa Hakko Kirin, Novartis, Roche, Sanofi, and others. Adimab has also partnered with many early-stage venture-backed companies, including Amagma, Cullinan Oncology, Pliant, Tizona, iTeos, and others, as well as mid-size public biopharmaceutical companies such as Acceleron, Alector, Five Prime, Innovent, Jounce, Mersana, Scholar Rock, Seattle Genetics, Surface Oncology, and others.
Adimab’s integrated antibody discovery and engineering 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 demanding 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200114005185/en/
CONTACT: Guy Van Meter
Chief Business Officer
KEYWORD: UNITED STATES NORTH AMERICA NEW HAMPSHIRE
INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL HEALTH ONCOLOGY
SOURCE: Adimab, LLC
Copyright Business Wire 2020.
PUB: 01/14/2020 09:41 AM/DISC: 01/14/2020 09:41 AM