Innovent Biologics Expands Adimab LLC. Partnership; Second mAb Partnership In A Week
Innovent Biologics, a fast-growing Suzhou biotech, has expanded its collaboration with Adimab, a mAb discovery company located in New Hampshire. Using its proprietary yeast-based discovery program, Adimab will generate IgGs or bispecifics for multiple targets identified by Innovent. Innovent will develop the drug candidates and retain global rights to them. Last week, Innovent announced a $120 million partnership -- also for bispecifics -- with EpimAb Biotherapeutics, a Shanghai startup. Innovent will own global rights to these candidates as well, though EpimAb will share in revenues and income from out-licensings.