APRIL 6, 2016
Abpro, a Massachusetts-based integrated life science company at the forefront of synthetic biology, has announced a partnership with Essex Bio, a biopharmaceutical company based in China. It has been agreed that Abpro and Essex will jointly develop multiple monoclonal antibodies in ophthalmology and immuno-oncology by leveraging the DiversImmune™ platform of Abpro. Moreover, as part of the agreement, Abpro received a $3.5M equity investment from Essex Bio and an undisclosed amount from affiliates.
“This partnership with Essex Bio adds further validation to our discovery platform and provides an opportunity to advance novel therapeutics with one of the largest ophthalmology companies in China, which is the second largest pharmaceutical market in the world. This agreement results in a strong partnership with R&D efforts and significant capabilities both in the United States and China,” said Ian Chan, CEO of Abpro.
Patrick Ngiam, Founder and Chairman of Essex Bio, said: “Abpro’s unique proprietary platform has proven to be successful against traditionally difficult targets for antibodies and offers significant potential for us to co-develop novel therapeutic treatments for immuno-oncology and ophthalmic diseases. We look forward to leveraging this platform to advance monoclonal assets into the clinic and onto commercialization.”
As per the agreement, Essex Bio and affiliates will provide an upfront equity investment to Abpro. The companies will seek commercial authorizations and advance multiple assets through pre-clinical and clinical development. Abpro retains commercialization rights in the U.S. and rest of world, excluding China, with cross-royalties from each region. On the other hand, Essex Bio holds commercial rights to these assets in China. Abpro will generate antibodies with high sensitivity and specificity for advancing human health through its DiversImmune™ platform.
Abpro is considered as the pioneer of industrial biochemistry. Using its core technology, the DiversImmuneTM platform, Abpro leverages immunology and synthetic biology for accelerating antibody discovery and development in the industry of life sciences. The company creates novel bio-molecules for improving human and animal health through developing products in the research, therapeutic and diagnostic markets. Furthermore, leading companies and academic labs around the world use Abpro’s products and discovery services for the purpose of life science research, like therapeutics, diagnostics and research products. In addition, Abpro has formed multiple partnerships with leading biotechnology and international pharmaceutical companies regarding novel biomolecules. These companies include Amgen, MedImmune, Merck, Novartis, Genzyme, Pfizer, Eli Lilly, and others. Moreover, Abpro has collaborated with several academic research centers, including Massachusetts Institute of Technology, Harvard University, and Stanford University.