BioInvent Signs Licensing Agreement with Mitsubishi Tanabe Pharma Corporation
News Aug 03, 2009
BioInvent International AB has announced that it has signed a license agreement with Mitsubishi Tanabe Pharma Corporation for the development of antibodies, up to five therapeutic targets, from BioInvent’s n-CoDeR® library.
Under the terms of the agreement, Mitsubishi Tanabe will be granted access to BioInvent’s discovery and development technology platform.
BioInvent will receive an undisclosed upfront access fee, annual maintenance fees as well as royalties on commercialized products and success-based milestone payments. The agreement follows on an existing research license and a feasibility study concluded earlier this year.
The n-CoDeR® library contains more than 20 billion (2 x 1010) highly diverse, fully human antibody fragments that have been created using BioInvent’s patented approach, generating antibodies with high affinity and selectivity.
Svein Mathisen, CEO of BioInvent, commented, “The signing of a second agreement for our n-CoDeR® library by a major Japanese pharmaceutical company validates further our proprietary antibody library. We look forward to working with Mitsubishi Tanabe and expanding our presence in the growing Japanese market.”