VANCOUVER, Jan. 12 /PRNewswire-FirstCall/ -- InNexus Biotechnology, Inc. is pleased to announce it has entered into a co-development arrangement for its TransMab Antibody Technology with Epitomics Inc. of Burlingame California.
Under the terms of the agreement; Epitomics will supply humanized antibodies for certain intracellular targets that have been identified by the parties. InNexus will then modify these antibodies for intracellular delivery using its TransMab Technology. The companies plan to then jointly move the lead therapeutic candidate(s) through clinical trials phase II, before licensing to a commercialization partner. The co-development agreement calls for InNexus and Epitomics to jointly develop therapeutic, diagnostic and life science products. The details of the financial terms are not disclosed.
Garth Likes, Vice President of Business Development, stated, "we look forward in working with Epitomics as they bring to the project high affinity humanized antibodies which, when modified with our TransMab technology, should create never before seen intracellular antibody therapeutics as well as unique and novel diagnostic/life science reagents. In our view, this agreement represents a validation across broad applications for our Company and its technology. This agreement continues our strategy of developing our TransMAb technology to the next level."
"We are excited to build a partnership with InNexus and to work on the co-development of potential therapeutic candidates using the multiple Epitomics and InNexus technologies," said Dr. Guo-Liang Yu, CEO and President of Epitomics, Inc. "The co-development presents the great potential for a breakthrough in intracellular antibody therapeutic area. We look forward to utilizing our unique technology to contribute to this partnership and in achieving the anticipated results."
InNexus is developing the next generation of therapeutic, monoclonal antibodies using its SuperAntibody Technology Platform (SAT). InNexus intends to apply this technology to improve the potency of existing antibody products while opening new markets and disease applications with other forms of SuperAntibodies. InNexus is developing the technology through partnerships with biotechnology and pharmaceutical companies while pursuing development of its own products for unmet medical needs. To learn more about InNexus please visit the Company's website: http://www.innexusbiotech.com/
Epitomics, Inc. is a privately held biotechnology company that develops and commercializes its proprietary rabbit monoclonal antibody technology for use in the research community, diagnostic and therapeutic markets through licensing, services and product sales. Epitomics also has a novel humanization technology. The Company has worked with Sugen, Genentech, Upstate USA, Exelixix and Ventanna to name a few. The Company has headquarters in Burlingame, California, and a wholly owned subsidiary in Hangzhou, the People's Republic of China. http://www.epitomics.com/
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts and are subject to risks and uncertainties which could cause actual results and the timing of certain events to differ materially from those set forth in or implied herein including, without limitation, risks associated with clinical development, regulatory approvals, product commercialization, intellectual property claims litigation and other risks associated with the Company's proposed activities.
On behalf of the Board of Directors of InNexus Biotechnology, Inc.
Dr. A. Charles Morgan
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InNexus Biotechnology, Inc.