LUND, SWEDEN / ACCESS Newswire / April 8, 2025 / BioInvent International AB ("BioInvent") (Nasdaq Stockholm:BINV), a biotech company focused on the discovery and development of novel and first-in-class immune-modulatory antibodies for cancer immunotherapy, today announces that it has earned a 1 million USD milestone payment, following Takeda's (TSE:4502/NYSE:TAK) initiation of Phase 3 clinical trial of mezagitamab (TAK-079), identified from BioInvent's proprietary n-CoDeR® antibody library. The study is evaluating this potential best-in-class anti-CD83 monoclonal antibody for persistent or chronic primary immune thrombocytopenia (ITP).
"We are excited to see mezagitamab progress into Phase 3 trials, marking a significant step for Takeda and our n-CoDeR platform," said Martin Welschof, Chief Executive Officer of BioInvent. "This milestone not only validates the consistent high quality of drug candidates identified from our n-CoDeR antibody library, but it also highlights the success of our out-licensing strategy and its ability to drive real-world impact through strategic partnerships."
Takeda is developing mezagitamab (TAK-169) under a royalty and milestone agreement with XOMA Corporation (NASDAQ: XOMA) under which Takeda is granted a sublicense to the BioInvent antibody. BioInvent and XOMA have a long-standing cross-licensing agreement covering BioInvent's proprietary n-CoDeR antibody library and XOMA's bacterial protein expression technology.
About mezagitamab
Mezagitamab has received Orphan Drug Designation for the treatment of ITP and Fast Track Designation for treatment of chronic/persistent ITP from the U.S. Food and Drug Administration (FDA).
For information about the ongoing Phase 3 study, please see clinicaltrials.gov: NCT06722235, "Study of Mezagitamab in Adults With Chronic Primary Immune Thrombocytopenia".
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.
For further information, please contact:
Cecilia Hofvander, VP Investor Relations
Phone: +46 (0)46 286 85 50
Email: cecilia.hofvander@bioinvent.com
BioInvent International AB (publ)
Co. Reg. No.: 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.
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BioInvent Receives Milestone Payment as Takeda moves mezagitamab into Phase 3
SOURCE: BioInvent International
