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BioInvent signs deal with Bayer HealthCare for the discovery and development of therapeutic antibodies

13 Mar 2008 - BioInvent International AB (OMXS: BINV) announced that it has signed a deal with Bayer HealthCare related to the discovery and development of antibody products. Under the terms of the agreement, Bayer HealthCare will have a non-exclusive research licence for the use of BioInvent's proprietary n-CoDeRŪ library for the discovery of human monoclonal antibodies. BioInvent, in addition to its n-CoDeRŪ technology, will provide at BioInvent access to an extended antibody technology suite including BioInvent's proprietary selection processes, streamlined robotics and Immunoglobulin transient expression technology. Bayer HealthCare will fund all such activities.
 
As well as undisclosed license fees, BioInvent will receive additional milestone payments and escalating royalties on sales of any products commercialised. The agreement allows for up to 14 antibody products to be developed.