APN311 is a monoclonal chimeric antibody developed to treat neuroblastoma, a malignant tumor developing from nerve tissue and most common in children below five years.
Paladin Labs interim President and CEO Mark Beaudet said, "APN311 has shown promise in improving survival rates in the treatment of children diagnosed with neuroblastoma."
The monoclonal chimeric antibody developed in CHO cells target GD2 antigen present on neuroblastoma cells.
At present, APN311 is being studied in a randomized Phase III study in Europe while a considerable clinical activity of the candidate for the treatment of advanced neuroblastoma patients was established.
Apeiron president and CEO Hans Loibner said, "Paladin is well positioned to make APN311 a success in its territories."
The financial details of the licensing deal signed between the companies were not revealed.