SYDNEY, Australia, June 1 /PRNewswire-FirstCall/ -- Antibody therapeutics company EvoGenix Limited today announced that it had entered into a Technology Collaboration agreement with CSL Limited . EvoGenix will apply its proprietary technologies to antibody products selected by CSL from its pipeline. The collaboration is designed to generate superior antibodies that are more effective as human therapeutics.
CSL will have the right to commercialise the products, with EvoGenix to receive royalty payments as therapeutics emerging from the collaboration reach the market.
Under the terms of the agreement, EvoGenix will receive research payments to carry out work on CSL's products. Each project carries a success payment for achievement of project goals, as well as milestone payments as the product advances through the subsequent stages of clinical testing and regulatory approval.
The agreement marks the growing interest by Australian healthcare companies in the dynamic antibody sector, which is seen as the source of many of the blockbuster drugs of the future. In welcoming the agreement, Dr. Andrew Cuthbertson, CSL's Chief Scientific Officer commented, "CSL has identified antibody therapeutics as a focus of its expanding product pipeline. We are delighted to access key technologies which can accelerate development of our antibodies as effective treatments through this collaboration with EvoGenix."
Dr. Rob Crombie, VP for Business Development with EvoGenix, noted "We are looking forward to a highly productive relationship in developing these projects with CSL. As Australia's leading healthcare company, and with their track record of success in taking biopharmaceuticals to the market, CSL is ideally placed to accelerate antibodies emerging from the collaboration through to becoming successful products."
The agreement is the second major collaboration entered by EvoGenix to exploit its proprietary antibody development technologies. The first was signed with pharmaceutical giant GlaxoSmithKline late last year. EvoGenix expects to utilise its proprietary technologies in additional selected relationships over the next 2-3 years.
EvoGenix Limited has established leading technology capabilities for creating high value antibody therapeutics. The company exploits its capabilities through technology collaborations with partner companies, and also by development in-house of a succession of wholly-owned antibody products.
The EvoGenix technology converts a research-stage antibody, which is often produced in mice, into a high potency therapeutic suitable for long term administration to patients. This is a key value-creating step in antibody development.
EvoGenix is progressively building company value by assembling a portfolio of short and longer term revenues resulting from products successfully generated in technology collaborations. At the same time it is progressing its internal product pipeline with current products aimed at the treatment of osteoporosis, lung cancer, melanoma and respiratory infections. These will be out-licensed prior to the clinical stage to meet the existing high demand for new antibody products in the pharmaceutical industry.
CSL Limited is a global specialty biopharmaceutical company that develops, manufactures and markets products to treat and prevent serious human medical conditions.
Contact: Company inquiries:
Dr. Merilyn Sleigh
Chief Executive Officer
Mob: +61 412 766 790
Media and investor inquiries:
Ph: +61 2 9237 2800
Mob: +61 422 916 422