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Avacta Group and LC Chem Life Sciences have entered into a multi-target collaboration and development agreement.
Avacta Group, a developer of Affimer biotherapeutics and reagents, and LC Chem Life Sciences, the life sciences division of LG Group, have entered into a multi-target collaboration and development agreement, it was revealed in a Dec. 10, 2018 press release.
Under the terms of the agreement, LG Chem will gain the exclusive rights to develop and commercialize, globally, multiple Affimer therapeutics aimed at the treatment of patients with inflammatory disorders and oncology. Additionally, Avacta will generate and perform the discovery, optimization, and protein engineering of Affimer drug candidates against a set of undisclosed targets.
The companies will work together to advance all candidates through to drug candidate selection after which LG Chem will be responsible for preclinical and clinical development and any worldwide marketing of resulting products.
Furthermore, the agreement terms indicate that the companies will collaborate on the development of two different Affimer PK/ADME modifiers, which are Affimers that can be fused to other therapeutic proteins to modify certain properties of those biological drug moieties. Both companies will have the right to develop PK/ADME modified products and, by exercise of an option, will be able to take exclusive responsibility for the development, manufacture, and commercialization of those products.
“I am delighted to be entering into this therapeutic development partnership with LG Chem which is a strong validation of the potential of the Affimer platform, said Alastair Smith, chief executive of Avacta Group, in the release. “This alliance is an exciting opportunity, not only to work with a partner who has first-class biologics manufacturing and clinical development capabilities, but who also has a pioneering vision to develop innovative therapies.”
“We are very pleased to announce this collaboration with Avacta Group,” added Jeewoong Son, president of LG Chem Life Sciences. “Utilizing Avacta’s Affimer technology-a novel non-antibody protein format overcoming limitations of classical antibody-based therapy-and LG Chem’s biologics capability in development and manufacturing, it will take us to the next level of treatment paradigm and to open up a new horizon in biologics therapeutic strategies. I believe, this innovative collaboration will deliver value to patients and will transform patients’ lives.”
Source: Avacta Group