- Full rights returned following Exelixis' corporate restructuring announced January 07, 2024
- Collaboration generated novel targets and antibodies for use in immuno-oncology therapeutics
LUND, SWEDEN / ACCESSWIRE / January 12, 2024 / BioInvent International (STO:BINV) BioInvent International AB ("BioInvent") (Nasdaq Stockholm:BINV), a biotech company focused on the discovery and development of first-in-class immune-modulatory antibodies for cancer immunotherapy, today announced that its early discovery partner Exelixis, Inc. has provided a notice of termination for the option and license agreement for novel antibodies for use in immuno-oncology therapeutics. It follows a recently announced corporate restructuring program within Exelixis, prioritizing its pipeline of clinical and near-clinical programs. BioInvent regains the full rights to all targets and resulting candidates developed under the collaboration.
"We have appreciated the excellent partnership with Exelixis which has identified very interesting new pathways," said Dr. Martin Welschof, CEO of BioInvent. "These novel targets, generated from our proprietary F.I.R.S.T platform, formed the basis for generation of unique antibodies for immuno-oncology therapy. BioInvent has a long track record of successful collaborations and the positive progress on these exciting immuno-oncology targets opens the door to further opportunities."
The companies will collaborate on a wind-down and effective transition over the next 90 days. Today's news has no material financial impact on BioInvent.
About BioInvent
BioInvent International AB (Nasdaq Stockholm: BINV) is a clinical-stage biotech company that discovers and develops novel and first-in-class immuno-modulatory antibodies for cancer therapy, with currently five drug candidates in six ongoing clinical programs in Phase 1/2 trials for the treatment of hematological cancer and solid tumors. The Company's validated, proprietary F.I.R.S.T technology platform identifies both targets and the antibodies that bind to them, generating many promising new immune-modulatory candidates to fuel the Company's own clinical development pipeline and providing licensing and partnering opportunities.
The Company generates revenues from research collaborations and license agreements with multiple top-tier pharmaceutical companies, as well as from producing antibodies for third parties in the Company's fully integrated manufacturing unit. More information is available at www.bioinvent.com. Follow on the social media platform X: @BioInvent.
For further information, please contact:
Cecilia Hofvander, Senior Director Investor Relations
Phone: +46 (0)46 286 85 50
Email: cecilia.hofvander@bioinvent.com
BioInvent International AB (publ)
Co. Reg. No. Org nr: 556537-7263
Visiting address: Ideongatan 1
Mailing address: 223 70 LUND
Phone: +46 (0)46 286 85 50
www.bioinvent.com
The press release contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as the date they are made and are, by their very nature, in the same way as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios described in this press release. For a more detailed description of risk factors, see section "Risks and Risk Management," page 47, in the Company's annual report 2022.
Attachments
BioInvent regains rights to immuno-oncology targets from Exelixis
SOURCE: BioInvent International
View the original press release on accesswire.com
