BioInvent enter process development and manufacturing collaboration with Alligator
Lund, Sweden – 8 July 2016, – BioInvent International (BINV) today announces that it has signed an agreement with Alligator Bioscience AB to provide process development and manufacturing services for Alligator’s new bispecific antibody, ADC-1015.
“The agreement with Alligator to manufacture its new bispecific antibody ADC-1015 speaks to our leading expertise when it comes to manufacturing of antibodies. Our manufacturing facility will be upgraded during 2016 which includes installation of a Single Use Bioreactor (SUB). This enables delivery according to timelines defined by Alligator. The agreement is expected to generate revenues of more than SEK 20 million,” says Michael Oredsson, President and CEO of BioInvent.
‘We are pleased that BioInvent has committed to process development and manufacturing of the bispecific immune-activating antibody ADC-1015. Alligator has very high expectations of this candidate drug which could be the first of its kind within immuno-oncology. BioInvent's long experience and upgraded GMP certified manufacturing facility meet our needs for the coming clinical trial and will enable us to move ADC-1015 through to the clinic according to plan”, says Per Norlén, CEO of Alligator Bioscience AB.
The agreement includes payments for development services and GMP manufacturing for the coming clinical trial. The revenues are expected to be generated in the period 2016-2018, with the majority in 2017. Other terms will not be disclosed.
To the editors:
BioInvent International AB, listed on Nasdaq Stockholm, develops immuno-oncology drugs. With one of the world’s largest antibody libraries, and a unique, proprietary discovery method, BioInvent can identify the optimal cellular targets and antibodies for the treatment of various tumor types.
BioInvent is currently implementing an upgrade to its manufacturing facility for the manufacturing of antibodies and is installing a Single Use Bioreactor (SUB). This will provide BioInvent with the manufacturing capability to support its own expanding development programs while offering manufacturing support to selected partners.
BioInvent currently has three proprietary projects in or close to clinical stage, two manufacturing agreements, and research and/or licensing agreements with seven global pharmaceutical and biotech companies. More information is available at www.bioinvent.com.
About Alligator and ADC-1015
Alligator Bioscience AB discovers and develops innovative antibody based immunotherapies for treatment of metastatic cancer.
Alligator has a strong pipeline consisting of 5 product candidates. ADC-1013 is an immune activating antibody directed against CD40, in development for treatment of metastatic cancer. Clinical trials in cancer patients were initiated early 2015, and ADC-1013 was later the same year out-licensed to Janssen Biotech, a Johnson & Johnson oncology company. ADC-1015 is a bispecific immune activating antibody that targets OX40 and CTLA-4. Since both OX40 and CTLA-4 are expressed on T cells in the tumor area, ADC-1015 is expected to induce strong tumor-directed immune activation. In addition to ADC-1013 and ADC-1015, Alligator has three product candidates in research phase.
Alligator proprietary technology platforms, used to generate novel product candidates, includes the human antibody library ALLIGATOR-GOLD® and the antibody optimization technology FIND®.
More information is available at www.alligatorbioscience.se.
For further information, please contact:
President and CEO
+46 (0)46 286 85 67
+46 (0)707 16 89 30
The press release contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as the date they are made and are, by their very nature, in the same way as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios described in this press release.
This information is information that BioInvent International AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.30 a.m. CET, on 8 July, 2016.