EvoGenix Announces Antibody Collaboration with CSL
News Jun 05, 2006
EvoGenix will apply its proprietary technologies to antibody products selected by CSL from its pipeline.
The collaboration is designed to generate antibodies that are more effective as human therapeutics.
CSL will have the right to commercialise the products, with EvoGenix to receive royalty payments as therapeutics emerging from the collaboration reach the market.
Under the terms of the agreement, EvoGenix will receive research payments to carry out work on CSL's products.
Each project carries a success payment for achievement of project goals, as well as milestone payments as the product advances through the subsequent stages of clinical testing and regulatory approval.
The agreement marks the growing interest by Australian healthcare companies in the dynamic antibody sector, which is seen as the source of many of the blockbuster drugs of the future.
In welcoming the agreement, Dr. Andrew Cuthbertson, CSL's Chief Scientific Officer commented, "CSL has identified antibody therapeutics as a focus of its expanding product pipeline."
"We are delighted to access key technologies which can accelerate development of our antibodies as effective treatments through this collaboration with EvoGenix."
Dr. Rob Crombie, VP for Business Development with EvoGenix, noted, "We are looking forward to a highly productive relationship in developing these projects with CSL."
"As Australia's leading healthcare company, and with their track record of success in taking biopharmaceuticals to the market, CSL is ideally placed to accelerate antibodies emerging from the collaboration through to becoming successful products."
The agreement is the second major collaboration entered by EvoGenix to exploit its proprietary antibody development technologies. The first was signed with pharmaceutical giant GlaxoSmithKline late last year.