Intellect has said the antibodies are difficult to generate and so the acquisition could significantly accelerate its product development timeline.
The antibodies are intended as a form of passive immunization to promote the clearance of the endogenous soluble Alzheimer’s toxin, beta-amyloid, from the brain, where it causes devastating damage to victims of the disease.
Under the terms of the agreement, Intellect will pay IBL milestone payments related and a royalty based on sales of the drug. In addition, Intellect has granted IBL an exclusive license with respect to certain of its intellectual property related to the antibodies. The license is restricted to the manufacture, use and sale of IBL’s antibodies for research and diagnostic purposes. Intellect is the holder of patents in Japan and other countries related to antibodies and methods of treatment for Alzheimer’s disease.
“We are impressed by the specificity and binding characteristics of IBL’s beta-amyloid specific monoclonal antibodies, which do not cross-react with other structurally related proteins that are involved in normal physiological processes, and thus should reduce the likelihood of adverse side-effects in patients,” commented Intellect’s CEO, Dr Daniel Chain.