Prima Biomed Announces Commencement Of Milestones For IMP701 Program
SYDNEY, AUSTRALIA - Prima BioMed Ltd (ASX: PRR; NASDAQ: PBMD) (“Prima” or the “Company”) today announced it will receive an undisclosed clinical milestone payment from its collaboration and licensing agreement with Novartis relating to its Phase I IMP701 LAG-3 antibody. The antibody is being trialled for the treatment of cancer.
Immutep (which Prima Biomed acquired in December 2014) and CoStim Pharmaceuticals (which Novartis acquired in February 2014) entered into a commercial licensing and collaboration agreement in September 2012, under which CoStim obtained a licence to develop and commercialise antagonistic LAG-3 antibodies.
Novartis has full responsibility for the continued development of the antibody program and Prima is eligible to receive further potential development-based milestone payments and royalties on sales following commercialisation of the products.
Mr Marc Voigt, CEO of Prima, commented "There is strong preclinical evidence that antibodies to LAG-3 can promote an increased and sustained anti-cancer immune response. We are delighted that Novartis has now moved that concept into the clinic with help from our work in the field."
About IMP701
IMP701 is a therapeutic antibody originally developed by Immutep to target LAG-3. This antagonist antibody plays a role in controlling the signalling pathways in both effector T cells and regulatory T cells (Treg). The antibody works to both activate effector T cells (by blocking inhibitory signals that would otherwise switch them off) and at the same time inhibit Treg function that normally prevent T cells from responding to antigen stimulation. The antibody therefore removes two brakes that prevent the immune system from responding to and killing cancer cells. In contrast, some other checkpoint antibodies in development target only the effector T cell pathway and don't address the Treg pathway.
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Immutep (which Prima Biomed acquired in December 2014) and CoStim Pharmaceuticals (which Novartis acquired in February 2014) entered into a commercial licensing and collaboration agreement in September 2012, under which CoStim obtained a licence to develop and commercialise antagonistic LAG-3 antibodies.
Novartis has full responsibility for the continued development of the antibody program and Prima is eligible to receive further potential development-based milestone payments and royalties on sales following commercialisation of the products.
Mr Marc Voigt, CEO of Prima, commented "There is strong preclinical evidence that antibodies to LAG-3 can promote an increased and sustained anti-cancer immune response. We are delighted that Novartis has now moved that concept into the clinic with help from our work in the field."
About IMP701
IMP701 is a therapeutic antibody originally developed by Immutep to target LAG-3. This antagonist antibody plays a role in controlling the signalling pathways in both effector T cells and regulatory T cells (Treg). The antibody works to both activate effector T cells (by blocking inhibitory signals that would otherwise switch them off) and at the same time inhibit Treg function that normally prevent T cells from responding to antigen stimulation. The antibody therefore removes two brakes that prevent the immune system from responding to and killing cancer cells. In contrast, some other checkpoint antibodies in development target only the effector T cell pathway and don't address the Treg pathway.
Help employers find you! Check out all the jobs and post your resume.