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news.BioInvent International has announced that the company has sold back all its rights to drug development candidate ADC-1013 to former partner Alligator Bioscience for an undisclosed sum.
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BioInvent has successfully manufactured ADC-1013 (a FIND optimized n-CoDeR antibody) and will fulfill the remaining CMC activities required to supply drug product to the First-in-Human study, expected to commence by the end of 2014.
BioInvent will continue to focus its efforts on its fully owned drug development candidates BI-505 in phase II for Multiple Myeloma and BI-1206, where a First-in-Human study in non-Hodgkin’s Lymphoma is expected to start late 2014/early 2015.
"We are very pleased to give priority to our fully owned portfolio and to realise value from our stake in the ADC-1013 project. We are also pleased that we have been able to contribute to the joint project with Alligator Bioscience", says BioInvent’s CEO Michael Oredsson.
BioInvent International is a research-based pharmaceutical company focused on discovery and development of innovative antibody-based drugs against cancer.
The company has unique expertise in antibody drug development from initial concept to late clinical phase.
The screening tool F.I.R.S.T. and the antibody library n-CoDeR are two patented tools that enable identification of relevant human antibodies and disease targets during the discovery phase.
The scope and strength of this platform is also used to develop antibody-based drugs in collaboration with partners who finance the development of the new drug, and provide BioInvent the right to milestone payments and royalties on sales.
These partners include Bayer Pharma, Daiichi Sankyo, Les Laboratoires Servier and Mitsubishi Tanabe Pharma.