Firm is tasked with finding antibodies against company-selected targets.
Adimab reports the initiation of three independent research collaborations with Eli Lilly, Genentech, and Human Genome Sciences (HGS). Adimab also says that it achieved a technical milestone in its ongoing collaboration with Novartis, which was initiated in June. Additionally, the firm says that Merck & Co. exercised its option to start an additional project around a second target.
Under its deal with Lilly, Adimab will use its discovery platform to identify fully human antibodies against two targets selected by Lilly. For each target the agreement grants Lilly the right to antibodies generated from the collaboration for potential use as therapeutic products.
Adimab will receive various upfront fees including research fees and technical milestones. If Lilly exercised its option to license antibodies, Adimab would receive license fees, clinical milestones, and royalties.
According to its arrangement with Genentech, Adimab will identify fully human antibodies against two targets selected by Genentech. Under the terms of the agreement, Genentech has rights to commercialize antibodies generated from the collaboration. Adimab will receive up-front payments, milestones for preclinical and clinical achievements, and licensing fees. In addition, Adimab is eligible to royalties on therapeutic and diagnostic product sales.
For HGS, Adimab will identify fully human antibodies against one target selected by Human Genome Sciences. The agreement gives Human Genome Sciences the option to commercialize resulting antibodies. Adimab will receive up-front payments, preclinical and clinical milestones, as well as royalties.
“Adimab’s platform is unique in comparison to any other antibody discovery technology,” according to Guy Van Meter, Adimab’s senior director of business development. “By incorporating target biology into the selection process, we are able to generate very high-quality leads in a short timeframe.
“The most sophisticated buyers in the industry understand the impact Adimab could have on their pipelines,” Van Meter continues. “Since launching the platform in June of 2009, we have closed a total of 15 funded discovery programs including 10 new programs in 2010.”
Adimab’s collaborations over the past 18 months include firms like Merck, Novartis, Pfizer, and Roche. “As more companies develop therapeutic leads against the same validated disease targets, leading pharma companies are actively seeking out technologies that give them a meaningful advantage, and Adimab’s deal flow speaks for itself,” comments Tillman Gerngross, Adimab’s CEO and co-founder.
“In this highly competitive environment, having access to the best technology becomes essential, not optional. Our ability to provide high-quality leads in a matter of months is driving the demand for our technology.”