13.6.2017 15:01 | Nasdaq OMX
AbCellera Announces Expanded Research Collaboration with Teva
Collaboration extends initial partnership and aims to generate lead antibody candidates against membrane targets using AbCellera's antibody discovery platform
VANCOUVER, British Columbia, June 13, 2017 (GLOBE NEWSWIRE) -- AbCellera Biologics, Inc. announced today a new therapeutic antibody discovery collaboration with Teva Pharmaceutical Industries, Ltd. Under the agreement, which builds on a successful first partnership completed in 2016, AbCellera will apply its proprietary monoclonal antibody (mAb) screening platform for the discovery of antibodies that modulate the function of an undisclosed membrane protein target elected by Teva.
Carl Hansen, founding CEO of AbCellera, commented: "We are excited to expand our relationship with the innovative team at Teva. This follow-on project marks an important step in establishing AbCellera's platform as an enabling technology for difficult target classes that have proven intractable by conventional antibody discovery methods."
"We are pleased to extend our work with AbCellera utilizing this company's novel biologics technology," said Steffen Nock, SVP & Global Head of Biologics at Teva. "This agreement will be complementary to our existing antibody discovery process with the potential to strengthen Teva's capabilities in novel biologics discovery."
Under the terms of the agreement, AbCellera will receive an upfront payment and research support, as well as milestone and royalty payments based on Teva's development and commercialization of antibodies generated under this collaboration. Further terms of the agreement are not disclosed.
About AbCellera Biologics, Inc.
AbCellera is a privately held company that develops next-generation monoclonal antibody therapies and provides enabling technologies to biotechnology and pharmaceutical partners. AbCellera's lead technology is a proprietary single-cell antibody discovery and immune profiling platform that allows for high-throughput screening of natural immune repertoires to rapidly identify lead therapeutic antibody candidates from any species, including humans.
Kevin Heyries, PhD
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