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BioInvent and Bayer extend and broaden collaboration for the discovery and development of therapeutic antibodies

On October 14, 2013 BioInvent reported that it has signed an extension to its 2008 license agreement with Bayer Pharma AG for the development of antibodies from BioInvent’s n-CoDeR libraries (Press release BioInvent, OCT 14, 2013, http://www.bioinvent.com/investors/press-releases/release.aspx?releaseid=817483 [SID:1234500560]). Under the terms of the extension, Bayer will broaden its access to BioInvent’s discovery and development technology platform.
BioInvent will receive an undisclosed license fee to cover new projects plus success-based milestone payments and royalties on products already in development.
The n-CoDeR libraries contain 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.

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(Company Web Page, Curadis, OCT 11, 2013, http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.co.in&sl=de&tl=en&u=View Source;usg=ALkJrhj4I73TUwuGAXsBTrKtWXiz6EnPsQ [SID:1234505876])

ImmunoGen, Inc. Announces New License Agreement

On October 11, 2013 ImmunoGen, Inc. (Nasdaq: IMGN), a biotechnology company that develops novel anticancer therapeutics using its antibody-drug conjugate (ADC) technology, reported that Novartis has licensed the exclusive right to use the Company’s ADC technology to develop anticancer therapeutics to an undisclosed target (Press release, Novartis, OCT 11, 2013, View Source [SID:1234505762]).

"We believe the therapies Novartis is developing with our ADC technology have the potential to make an important difference for patients," commented Daniel Junius, President and CEO.

This is the second license to be taken by Novartis under a 2010 agreement between the companies. For each license, ImmunoGen receives an upfront payment and is entitled to receive milestone payments potentially totaling approximately $200 million plus royalties on the sales of any resulting products. Novartis is responsible for the development, manufacturing and marketing of any products resulting from the license.

ILC Granted Orphan Drug Designation in Europe for the Treatment of Osteosarcoma

October 8, 2013 Eleison Pharmaceuticals LLC, a specialty pharmaceutical company developing life-saving therapeutics for rare cancers, reported the European Commission has granted Orphan Drug Designation to ILC (Inhaled Lipid-complexed Cisplatin), for the treatment of osteosarcoma (Press release, Eleison Pharmaceuticals, OCT 8, 2013, View Source [SID1234517401]). The designation follows the earlier positive opinion and recommendation of the European Medicines Agency (EMA) Committee of Orphan Medical Products. The Orphan Drug Designation provides Eleison access to protocol assistance and certain financial incentives from the EMA, as well as 10 years marketing exclusivity for ILC upon the receipt of marketing approval.
Dr. Forrest Anthony, Chief Medical Officer of Eleison Pharmaceuticals commented, "We are very pleased to receive Orphan Drug Designation by the European Commission, as ILC is potentially a breakthrough in the treatment of children and young adults with osteosarcoma, an often deadly cancer with little improvement in survival over the past 25 years. Our global phase II clinical for ILC remains ongoing with interim results expected in the middle of next year."

(Press release, Leo, OCT 8, 2013, View Source [SID:1234504699])