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Adimab LLC. Cash Flow Goes Into the Black With Biogen Idec, Inc. (Massachusetts) (BIIB), GlaxoSmithKline (GSK) Deals


7/26/2013 7:19:03 AM

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LEBANON, N.H.--(BUSINESS WIRE)-- Adimab, LLC, a leader in the discovery of fully human monoclonal and bispecific antibodies, today announced an expanded collaboration with Biogen Idec for the discovery of antibody based therapeutics.

Under the terms of the agreement, Adimab will license and transfer its proprietary antibody discovery platform (the “Adimab Platform”) to Biogen Idec and enable Biogen Idec researchers to utilize the Adimab technology for the discovery, optimization of all antibody formats, including bispecific antibodies. Following GSK, Biogen Idec will be the second pharmaceutical company to internalize the Adimab Platform. Biogen Idec will receive a custom human antibody library that is unique and exclusive to Biogen Idec and will obtain a license to the Adimab Platform for use in Biogen Idec’s targeted therapeutic areas. In addition, Biogen Idec has secured an option to receive continued improvements to the Adimab Platform, including access to new antibody libraries. Adimab will receive an undisclosed upfront, signing fee, plus future payments upon achievement of specified preclinical and clinical milestones, as well as royalties and additional future payments upon achievement of specified commercial milestones on therapeutic products.

“We are excited to expand our relationship with Biogen Idec,” said Tillman Gerngross, Chief Executive Officer of Adimab. “Biogen Idec is one of the more sophisticated buyers in the industry, and having earned their endorsement through a competitive evaluation process validates our focus on offering the premier antibody discovery technology in the industry. The two BD teams worked hard to find the right structure to allow Biogen Idec to bring the Adimab technology in house.”

“This collaboration is the type of relationship we have been looking for. Our goal has always been to become the industry’s best technology provider for all antibody based therapeutics,” said Guy van Meter, VP of BD at Adimab. “As therapeutic programs get more complex and challenging, biotech and pharma companies need access to discovery technologies that can provide a competitive advantage.”

“The roots of Biogen Idec’s success are based in discovery science, and antibody biologic drug candidates are an important part of that,” said Werner Meier, Vice President of Biologics Drug Discovery at Biogen Idec. “In order to identify the best antibody discovery technology to support these efforts, we engaged in a rigorous selection process and Adimab was the clear winner. We believe Adimab’s platform will help us to accelerate our drug discovery efforts as we search for the next generation of antibodies to treat neurodegenerative and autoimmune diseases.”

Over the past four years, Adimab has established collaborations with multiple leading pharmaceutical companies, including Merck, Roche, Novartis, Eli Lilly, Genentech, Biogen Idec, Novo Nordisk, Gilead, Kyowa Hakko Kirin and GSK. Adimab’s collaborations range from single target funded discovery projects, to larger multi-target funded discovery collaborations, as well as full license, transfer and enablement of the Adimab Platform to pharma companies. These collaborations focus on IgG discovery, optimization, humanization and/or bispecifics for therapeutic products.

About Adimab

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 http://www.adimab.com.

Contact:

Adimab, LLC.

Guy Van Meter, 603-653-5775

VP of Business Development

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