Peregrine and Affitech to collborate on developing antibodies.
"We are very pleased to enter into this collaboration with Affitech to expand our VTA and anti-angiogenesis programs," stated Steven King, Peregrine's president and CEO. "Our mutual goal is that, through this collaboration, we will be able to identify a number of fully human monoclonal antibodies that can be used either for our VTA or anti-angiogenesis technology platforms. Along with clinical candidates that we have already identified and other collaborations that are underway, we believe we will be able to have several VTAs in the clinic with unique target and effector functions."
Commenting on the collaboration, Dr. Ole Jorgen Marvik, CEO of Affitech said, "This is a very significant partnership for us, and we are excited to be able to enter into this deal, especially because of Peregrine's dedicated research and development efforts in anti-angiogenesis and Vascular Targeting Agent programs." Dr. Marvik further stated, "This is our third collaboration deal that we have secured in the past two months and all of them are in the oncology field. Given the general success of monoclonal antibodies in the cancer area and in line with Affitech's strategies and ambition to build a pipeline of successful anti-cancer antibody products, we confidently look forward to leverage our validated technology together with Peregrine's patented targets, as well as their long-standing expertise in the development of tumor targeting agents."
Affitech is a human antibody therapeutics company based in Norway, having its United States subsidiary in the San Francisco Bay Area. The company's primary focus is in the discovery and development of human therapeutic antibodies for cancer and infectious diseases. Affitech is the exclusive worldwide patent holder of the phagemid system of antibody and antibody fragments. Additionally, the company has recently implemented a pair of completely novel and exclusive technologies for efficient and rapid discovery of antibodies for therapeutic use. These include an in vitro selection platform, and its Patient Library/AffiScreen antibody screening technology that utilizes antibody repertoires from patients suffering from cancer and infectious diseases. Affitech's business strategy is to generate short-term revenue through customer-based projects and out-licensing of technology assets and early stage products, and in addition to build a proprietary product pipeline through collaborations and partnership.
Peregrine is a biopharmaceutical company focused on the development, commercialization and licensing of unique technologies for the treatment of cancer, primarily based on three collateral targeting technologies. Peregrine's Tumor Necrosis Therapy, Vasopermeation Enhancement Agents, and Vascular Targeting Agents technologies target cell structures and cell types that are common among solid tumor cancers, giving them broad applicability across various tumor types. The company has received approval from the FDA to start a Cotara Phase III clinical trial for brain cancer. Cotara is also being studied in a Phase I trial for colorectal, pancreas, soft tissue sarcoma and biliary cancers at Stanford University. The company is focused on licensing collaborations for all of its technologies under development. The company's Oncolym technology to treat non-Hodgkin's B-cell lymphoma in Phase I/II of development is available for licensing. The company operates a cGMP contract manufacturing facility for monoclonal antibodies and recombinant proteins through its wholly owned subsidiary Avid Bioservices.
Peregrine Pharmaceuticals, Inc.