Adimab Initiates New Therapeutic Discovery Partnership with Innovent
Announces Receipt of Milestone Payments from Multiple Existing Collaborators
including Eli Lilly and Company and Kyowa Hakko Kirin
LEBANON, N.H. -- August 20, 2013
Adimab, LLC, a leader in the discovery of monoclonal and bispecific
antibodies, and Innovent, a leading Chinese antibody therapeutics and
manufacturing company, today announced a new partnership for the discovery,
development and commercialization of an antibody-based therapeutic program.
Under the terms of the Agreement, Adimab will utilize its antibody discovery
and optimization platform to identify a fully human therapeutic antibody
against a target selected by Innovent. All initial product development,
including manufacturing and clinical trials, will be coordinated by Innovent.
Both companies will retain rights to develop and commercialize the therapeutic
program in their respective geographic territories.
“We are excited to enter into this partnership with one of China’s leading
biotechnology companies,” said Tillman Gerngross, Chief Executive Officer of
Adimab. “Innovent’s manufacturing and product capabilities are impressive.
They have built a remarkable manufacturing infrastructure, and we are
confident in their ability to develop attractive programs for the Chinese
“Adimab is clearly a great strategic partner for Innovent. The speed and the
quality of their platform has consistently generated therapeutic programs that
are superior to the output from competing technologies,” said Michael Yu,
Chief Executive Officer of Innovent. “We feel that combining the Adimab
platform with Innovent’s strong development and manufacturing capabilities
will help us to rapidly build a strong therapeutic pipeline and commercial
presence in China.”
Under the terms of the Agreement, the parties will jointly coordinate the
development, manufacture and commercialization of the therapeutic antibody.
Innovent will compensate Adimab for the discovery and optimization of the
therapeutic leads. Innovent will initially lead the development efforts,
including cell line development, formulation, manufacturing and clinical
trials. Adimab is required to reimburse Innovent for specific development
costs. Innovent will retain rights for commercialization in China, with
royalties owed to Adimab on product sales. Adimab will retain rights for
commercialization in the US, Europe and Japan, with royalties owed to Innovent
on product sales.
In addition, Adimab today announced the achievement of technical milestones
from its ongoing collaborations with Eli Lilly and Company, Gilead, and Kyowa
Over the past four years, Adimab has established partnerships with multiple
leading pharmaceutical companies, including Merck, Roche, Novartis, Lilly,
Genentech, Biogen Idec, Novo Nordisk, Gilead, Kyowa Hakko Kirin and GSK.
Adimab’s partnerships range from single target funded discovery projects, to
larger multi-target funded discovery collaborations, as well as full transfer
and enablement of the Adimab Platform to pharmaceutical companies. These
collaborations focus on IgG discovery, optimization, humanization and/or
bispecifics for therapeutic products.
About Innovent Biologics
Innovent Biologics, Inc., a privately held biopharmaceutical company funded by
Fidelity and Lilly from the US, is dedicated to the development and
manufacturing of monoclonal antibodies and other biopharmaceuticals to be
marketed in China and elsewhere around the world. Innovent has five products
in development and is building the largest antibody production facility in
China that complies with international standards.
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
Guy Van Meter, 603-653-5775
VP of Business Development
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