LYON, France--(BUSINESS WIRE)--iDD biotech today announces the achievement of the first milestone under the agreement signed one year ago with Genmab A/S, a publicly traded, international biotechnology company specializing in the creation and development of differentiated human antibody therapeutics for the treatment of cancer.
Genmab has selected iDD biotech’s antibody as a clinical candidate for further development. Under the terms of the agreement, Genmab will pay iDD Biotech a fee of EUR 3.5 million.
Commenting on this event, Paul Michalet, iDD biotech CEO, said: “This first successful milestone is great news for iDD biotech. It validates our business strategy and demonstrates the high level of expertise of our team and the strong therapeutic potential of our projects based on therapeutic antibodies and more in particular the vision of Claudine Vermot-Desroches, our CSO, who successfully led the development up to the Genmab agreement signature. Thanks to a reinforced financial visibility, we will actively continue to develop and strengthen iDD biotech and our pipeline with the great enthusiasm of all our team.”
About iDD biotech
iDD biotech is a biopharmaceutical company focused on developing innovative products in targeted immunotherapy, based upon monoclonal antibodies, for the treatment of cancer, autoimmune diseases and inflammation. The company is aiming at reinforcing the therapeutic arsenal and the pipeline of pharmaceutical companies.
iDD biotech owns key assets for its development: an extensive library of monoclonal antibodies with new potential targets, a portfolio of projects and patents, and several drug candidates.
With its technology platforms the company carries out the early stages of target validation and molecular and genetic engineering. It also produces antibodies for preclinical development. Strong intellectual property is a significant component of these activities.
In particular, iDD biotech has developed an innovative combination in biotherapy which led to the signature of an agreement with the biotechnology company Genmab, in March 2015.
Based in Lyon since its inception, iDD biotech is a member of Lyonbiopole, a world competitiveness healthcare cluster based in Rhône-Alpes (France), where it has developed close relationships with academic research institutes and world renowned clinicians. iDD biotech is recognized as a key member of the industrial cluster in therapeutic antibodies.
For more information, www.idd-biotech.com
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