Under the collaboration, FivePrime will provide Biosite access to selected functional disease targets for use in developing diagnostics.
In exchange, Biosite will provide FivePrime with Omniclonal® antibodies for selected targets to accelerate FivePrime's therapeutic research efforts.
Biosite's proprietary antibody development process is designed to generate diverse libraries of Omniclonal antibodies with high affinity and low cross-reactivity.
"FivePrime's comprehensive protein discovery program is providing a wealth of valuable therapeutic and diagnostic candidates," commented Gail Maderis, FivePrime's president and chief executive officer.
"This collaboration is a strategic win for both companies. It expands Biosite's portfolio of novel diagnostic targets and provides high quality antibodies to accelerate development of FivePrime's therapeutic pipeline."
"Biosite's discovery efforts are focused on developing a broad and diverse portfolio of novel diagnostics for diseases that lack rapid, accurate diagnostic methods," said Gunars Valkirs, Ph.D., senior vice president Biosite Discovery.
"FivePrime is a recognized industry leader in the discovery of novel targets, so we are pleased to begin this collaboration."