Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Neogenix Oncology, a research-driven biopharmaceutical company, has acquired substantially all of the assets of biotechnology company International Bio Immune Systems, including several patent applications and patents that will expand the Neogenix intellectual property portfolio, and enhance the opportunity for developing additional therapeutics and diagnostics beyond what is currently in development.
Subscribe to our email newsletter
Under the terms of the agreement, current International Bio Immune Systems (IBS) shareholders will have the opportunity to become shareholders in Neogenix. Additional terms of the transaction have not been disclosed.
The sale of these assets was recently approved by the IBS board and the IBS shareholders. The decision by IBS to transfer its assets to Neogenix is one of several steps IBS is taking as part of the planned dissolution of the company.
Philip Arlen, Neogenix’s president and chief medical officer, said: “The acquisition of this intellectual property and associated technology strengthens our existing platform for developing therapeutics and diagnostics focused on pancreatic, colorectal and other important cancers. These patents are an important addition to our portfolio, and could accelerate our efforts to produce more potent antibodies.”