Abpro, Essex Bio partner on antibody therapeutics
Tuesday, April 12, 2016
Abpro, an integrated life science company at the forefront of synthetic biology, has partnered with Essex Bio, a China-based biopharmaceutical company. Abpro and Essex will co-develop multiple monoclonal antibodies in immuno-oncology and ophthalmology by leveraging Abpro’s DiversImmune platform. Abpro received a $3.5M equity investment from Essex Bio and an undisclosed amount from affiliates, as part of the agreement.
“This partnership with Essex Bio adds further validation to our discovery platform and provides an opportunity to advance novel therapeutics with one of the largest ophthalmology companies in China, which is the second largest pharmaceutical market in the world,” said Ian Chan, CEO of Abpro. “This agreement results in a strong partnership with R&D efforts and significant capabilities both in the U.S. and China.”
“Abpro’s unique proprietary platform has proven to be successful against traditionally difficult targets for antibodies and offers significant potential for us to co-develop novel therapeutic treatments for immuno-oncology and ophthalmic diseases,” said Patrick Ngiam, founder and Chairman of Essex Bio. “We look forward to leveraging this platform to advance monoclonal assets into the clinic and onto commercialization.”
Abpro will receive an upfront equity investment from Essex Bio and affiliates. The companies will advance multiple assets through pre-clinical and clinical development and seek commercial authorizations. Essex Bio holds commercial rights to these assets in China, and Abpro retains commercialization rights in the U.S. and rest of world, excluding China, with cross-royalties from each region. Through its DiversImmune platform, Abpro generates antibodies with high sensitivity and specificity for advancing human health.
Abpro’s products and discovery services are used by leading academic labs and companies around the world for life science research purposes, such as therapeutics, diagnostics and research products. Abpro has formed multiple partnerships around novel biomolecules with leading biotechnology and international pharmaceutical companies including Amgen, Eli Lilly, Genzyme, MedImmune, Merck, Novartis, Pfizer and others. In addition, Abpro has collaborated with several academic research centers, including Harvard University, Massachusetts Institute of Technology and Stanford University.