SANTA CLARA, Calif. and UPPSALA, Sweden, Oct. 6 /PRNewswire/ -- Abmaxis, Inc., a privately held biopharmaceutical company, and BioArctic Neuroscience AB, a Swedish biotechnology company focused on the development of new treatments and diagnostics for Alzheimer's disease and other neurodegenerative disorders, announced today that they have signed a collaborative development agreement to jointly develop a therapeutic human monoclonal antibody for the treatment of Alzheimer's disease.
BioArctic's new antibody treatment strategy is based on discoveries made by Prof. Lars Lannfelt and his research team at Uppsala University. He discovered the Arctic mutation in familial Alzheimer's disease and identified a toxic component considered to cause the disease. BioArctic has developed murine monoclonal antibodies targeting this component. Using its unique antibody technology, Abmaxis will further optimize and humanize BioArctic's murine antibodies. Under the terms of the agreement, BioArctic will pay Abmaxis an upfront technology license fee and Abmaxis is also entitled to receive future milestone payments and royalties on product sales.
Dr. Par Gellerfors, President and Chief Executive Officer of BioArctic, commented, "We are confident that Abmaxis' structure-centric approach can deliver a superior drug candidate for further development into an effect drug for Alzheimer's disease.
"We consider the BioArctic target to be a unique discovery that could lead to the development of a new type of immunotherapy for Alzheimer's disease," stated Peter Luo, Ph.D., Chief Technology Officer of Abmaxis. "We are confident of our ability to successfully develop and optimize the drug candidate."
Abmaxis Inc. is a privately held biopharmaceutical company located in Santa Clara, California. It is dedicated to the discovery, optimization and development of monoclonal antibody (MAb) products for human therapeutics and diagnostics. The company has a seasoned management team with experience in the biotech, pharmaceutical and life science industries. Abmaxis has developed and validated a breakthrough antibody engineering technology platform, Abmaxis in-silico Immunization (AISIM(TM)), which is used for building an internal product pipeline and for collaborations with global biotech and pharmaceutical partners. The product strategy is to develop a pipeline of products with a spectrum of risk profiles, ranging from next-generation of clinically proven antibody drugs with significantly improved attributes to antibodies against novel targets. Abmaxis collaborates with corporate partners who have proprietary targets or antibodies that require humanization and engineering. Abmaxis has eight collaborations thus far and continues to seek corporate partnering opportunities. For more information, please visit www.abmaxis.com or contact CJ Wang, Vice President of Business Development, at firstname.lastname@example.org or 408-988-6100, x101.
About BioArctic Neuroscience AB
BioArctic Neuroscience AB is a biotech company founded in 2003. The company's long-term research strategy is to develop improved treatments and diagnostics for Alzheimer's disease and other neurodegenerative disorders. The company has received venture capital from Karolinska Innovation AB/KD2 and Uppsala Utveckling AB. For further information, please visit the company's website: www.bioarctic.se or contact Par Gellerfors.
CONTACT: Shirley Clayton, CEO of Abmaxis, +1-408-988-6100, ext. 130, email@example.com; or Par Gellerfors, CEO of BioArctic,+46-0-733-828856, or firstname.lastname@example.org