Two UK biotechnology companies form immuno-oncology joint venture

The JV, Avvinity Therapeutics, will be based in the UK. It has been launched to create a platform to discover and develop immuno-oncology therapeutics for solid tumours and leukaemias.

It will combine Horizon’s gene editing, immunology, oncology and drug discovery capabilities with Centauri’s Alphamer technology.

Horizon will out-license the intellectual property (IP) for its translational genomics and drug discovery platforms.

The company will also invest up to £5.3m in two tranches. The JV is part of Horizon’s investment strategy to identify the next generation of molecular and cellular cancer therapeutics.

Centauri will contribute its own IP and expertise on its Alphamer technology, which is based on chemically synthesized molecules that redirect naturally occurring antibodies in the human immune system to selected pathogens or cancer cells.

Avvinity will have exclusive rights for oncology indications for an initial period of three years and potentially beyond.

Horizon Discovery Group CEO Darrin Disley said: "By combining Horizon’s deep understanding of the genetic basis of cancer alongside its gene editing, drug discovery and emerging immuno-oncology toolbox, with Centauri’s unique Alphamer technology and knowledge of its use, we have created an exciting new company to spearhead Horizon’s move into targeted therapeutic development.

"We are confident this joint venture will break new ground in the development of immunotherapies, and bring significant value creation to Horizon shareholders."