BioInvent Enters Collaboration With Genentech to Develop and Commercialize BioInvent's Proprietary Antibody for the Potential Treatment of Cardiovascular Diseases.Genentech Obtains Rights to Commercialise in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. while BioInvent Retains Rest of World rights LUND, Sweden -- BioInvent announced today that it has entered into a strategic collaboration with Genentech, Inc. to co-develop and commercialize BioInvent's proprietary antibody candidate, BI-204, for the potential treatment of multiple cardiovascular conditions. Genentech will make an upfront payment of $15 million to BioInvent and, in addition, BioInvent could receive further milestone payments of up to $175 million as well as royalties on sales in North America. Under the terms of the agreement, Genentech and BioInvent will be jointly responsible for clinical development. Genentech will be responsible for, and will solely control, any commercialization of the drug in North America, whilst BioInvent will be responsible for, and will solely control, commercialization in the rest of the world. Throughout development Genentech and BioInvent will share the development costs. "We believe this deal could accelerate BioInvent's product development and that Genentech's proven track record in antibody development and commercialization makes it an ideal collaborator", says BioInvent's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Svein Mathisen Svein "Matta" Mathisen (born September 30, 1952) is a retired footballer from Norway. Except for a short and less successful spell with Scottish club Hibs, "Matta" played for I.K. Start throughout his career. Here he won the Norwegian league title in 1978 and 1980. in a comment. "Retaining the rights to the product outside of North America gives us an opportunity to increase our participation and involvement in the product's success." BI-204, which is in pre-clinical development Pre-clinical development is a stage in the development of a new drug that begins before clinical trials (testing in humans) can begin, and during which important safety and pharmacology data is collected. , addresses a significant medical need, in particular for the prevention of a cardiovascular event such as a myocardial infarction myocardial infarction: see under infarction. or stroke in patients at risk. Preclinical studies preclinical studies, n.pl a term used to describe research done before a clinical study. May be laboratory or epidemiologic research. suggest that this treatment could reduce atherosclerotic plaque Atherosclerotic plaque A deposit of fat and other substances that accumulate in the lining of the artery wall. Mentioned in: Atherectomy atherosclerotic plaque burden, and thereby decrease the risk of a secondary cardiovascular event. BI-204 targets a primary cause of atherosclerosis atherosclerosis (ăth'ərōsklərō`sĭs): see arteriosclerosis. atherosclerosis or hardening of the arteries by blocking a major mediator of vascular inflammation that is believed to lead to the formation of unstable plaque in the vessel wall. Preclinical animal models have demonstrated that this blockade leads to decreased vascular inflammation and a reduction in established atherosclerotic plaque. Legal disclaimer This press release contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their very nature, in the same way as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios described in this press release. Notes to editors: BioInvent International AB, listed on The Nordic Exchange (STO:BINV), is a research-based pharmaAceutical company that focuses on developing antibody drugs. The Company is currently running innovative drug projects within the areas of thrombosis, cancer, atherosclerosis, HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. infection and ophthalmic diseases. These projects are based on a competitive technology platform that covers the value chain for development of new drugs. The scope and strength of this platform is also utilised by partners, such as ALK-Abello, Antisoma, ImmunoGen, OrbusNeich, Syngenta, UCB UCB - University of California at Berkeley and XOMA. The Company, which currently has 96 employees, is located at Ideon in Lund. BioInvent International AB (publ) Co. reg. No. 556537-7263, Address: Solvegatan 41 Mailing address: SE-223 70 LUND Tel: +46 (0)46 286 85 50 info@bioinvent.com www.bioinvent.com |
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