BioInvent International has announced that it has signed an agreement with Alligator Bioscience AB to provide process development and manufacturing services for Alligator’s new bispecific antibody, ADC-1015. “The agreement with Alligator to manufacture its new bispecific antibody ADC-1015 speaks to our leading expertise when it comes to manufacturing of antibodies. Our manufacturing facility will be upgraded during 2016 which includes installation of a Single Use Bioreactor (SUB). This enables delivery according to timelines defined by Alligator. The agreement is expected to generate revenues of more than SEK 20 million,” says Michael Oredsson, President and CEO of BioInvent.
“We are pleased that BioInvent has committed to process development and manufacturing of the bispecific immune-activating antibody ADC-1015. Alligator has very high expectations of this candidate drug which could be the first of its kind within immuno-oncology. BioInvent's long experience and upgraded GMP certified manufacturing facility meet our needs for the coming clinical trial and will enable us to move ADC-1015 through to the clinic according to plan”, says Per Norlén, CEO of Alligator Bioscience AB.
The agreement includes payments for development services and GMP manufacturing for the coming clinical trial. The revenues are expected to be generated in the period 2016-2018, with the majority in 2017. Other terms will not be disclosed.