ImmunoBiochem Press Release <> ImmunoGen Press Release
TORONTO, July 24, 2023 /PRNewswire/ – ImmunoBiochem Corporation, a privately-held biopharmaceutical company focused on the discovery of unique tumor targets and development of novel biological therapeutics, announced today a multi-target license and option agreement with ImmunoGen, Inc. (Nasdaq: IMGN), a leader in the expanding field of antibody-drug conjugates (ADCs), to advance novel, first-in-class ADCs. The collaboration will combine ImmunoGen’s proprietary linker and payload technologies with ImmunoBiochem’s antibodies directed against specific targets.
As part of the agreement, ImmunoGen will pay ImmunoBiochem an upfront fee in exchange for an exclusive license to existing antibodies directed against a specific undisclosed target. ImmunoBiochem will be eligible to receive milestone payments and royalties based on the achievement of pre-specified development, regulatory, and commercial milestones. ImmunoGen will collaborate with ImmunoBiochem on preclinical activities and ImmunoGen will assume responsibility for the program’s future clinical development and commercialization activities. ImmunoGen will also have the option to select additional targets and antibodies to license based on certain preclinical work undertaken by ImmunoBiochem. If ImmunoGen chooses to exercise this option, ImmunoBiochem will receive an option exercise payment and ImmunoGen will assume responsibility for all subsequent R&D associated with that program.
ImmunoBiochem’s research and development is focused on the cancer cell secretome – the totality of proteins secreted by cancer cells – with the goal of discovering novel cancer targets in the tumor microenvironment (TME) with unique biology that can be exploited for the selective targeted delivery of potent chemotherapeutic and immunomodulatory payloads with potentiated biological therapeutics to a variety of cells within the TME, including cancer cells, supporting stroma and different immune system cells. Such novel targets could help overcome the challenges associated with solid tumor heterogeneity, penetration by large molecules and target-mediated resistance mechanisms. ImmunoBiochem has developed novel ADCs and immunostimulatory antibody-drug conjugates (ISACs) based on such novel cancer secretome target biology with efficacy in intractable solid tumors, including triple-negative breast cancer and pancreatic cancer.
“ImmunoBiochem is extremely pleased that ImmunoGen, one of the world’s leading ADC companies, will help catalyze the unique science and assets that we have been developing to engender novel strategies to tackle difficult solid tumors, particularly for patients that lack common tumor targets,” said Dr. Anton Neschadim, CEO of ImmunoBiochem. “This partnership validates our differentiated thinking and will enable ImmunoBiochem to significantly expand its discovery platform and innovative pipeline.”
“We are excited to partner with ImmunoBiochem, which brings a novel approach to tumor targeting for ADCs,” said Eric Westin, ImmunoGen’s Vice President of Clinical Development and Translational Sciences. “This agreement reflects our commitment to leverage our rich IP portfolio through strategic partnering in order to further reinvigorate our research and development in support of our pipeline.“
About ImmunoBiochem Corporation
ImmunoBiochem is an innovative biopharmaceutical company on a mission to develop novel biological therapeutics to address significant unmet need in oncology and immuno-oncology. ImmunoBiochem uses a combination of high-throughput functional screens, bioinformatics and AI/ML to unravel unique biology in the tumor microenvironment, particularly in the cancer cell secretome, and to discover novel tumor targets that could be exploited with various targeted therapeutic modalities. ImmunoBiochem, a Johnson & Johnson Innovation JLABS alumnus, is headquartered in Toronto, at the heart of Canada’s largest biomedical research hub, and has worked closely on some of its novel programs with the University of Toronto, Canada’s top university and amongst the world’s leading institutions in research and innovation. Learn more at www.immunobiochem.com.
About ImmunoGen
ImmunoGen is developing the next generation of antibody-drug conjugates (ADCs) to improve outcomes for cancer patients. By generating targeted therapies with enhanced anti-tumor activity and favorable tolerability profiles, we aim to disrupt the progression of cancer and offer our patients more good days. We call this our commitment to TARGET A BETTER NOW™. Learn more about who we are, what we do, and how we do it at www.immunogen.com.
For further inquiries, please contact:
Anton Neschadim, CEO and Director
+1 (416) 897-2789