Affitech A/S completes AT001/r84 preclinical package milestone in R&D agreement with IBC Generium
Affitech A/S announced that the Company has received 2.5 million Euro in milestone payment from IBC Generium. The payment is related to the delivery of the preclinical package for Affitech’s anti VEGF antibody AT001/r84 to its Russian collaboration partner IBC Generium, who will use the package for the filing of a Clinical Trial Application (CTA) in Russia. AT001/r84 is a novel patented human monoclonal antibody to human vascular endothelial growth factor (VEGF), and is being developed as a potential treatment of cancer. The collaboration agreement with IBC Generium comprises two development projects and is worth up to € 23 million in fees and advanced royalties to Affitech.
Managing Director of Affitech Martin Welschof said: “I am very pleased to see the continuing progress in the development of the drug candidate AT001/r84 leading to the payment of the first milestone in our R&D collaboration with Russian partner IBC Generium. The pre-clinical package performed under appropriate GMP or GLP procedures supports clinical trial applications in different territories.”
AT001/r84 is a novel, proprietary therapeutic antibody to vascular endothelial growth factor (VEGF) being developed by Affitech and IBC Generium as a potential alternative to bevacizumab (Avastin®) for the treatment of certain human cancers. The Russian health authorities have identified cancer therapy based on anti-VEGF antibodies as one of the top priority areas of pharma-innovation in Russia. Affitech’s AT001/r84 has the potential to satisfy patient needs in this area. The rights to develop and commercialize AT001/r84 outside Russia and the CIS remain with Affitech.
Affitech A/S announced that the U.S. Patent and Trademark Office (USPTO) has granted Affitech U.S. patent (no. 8,034,905) covering the Company’s anti-VEGF antibody drug candidate AT001/r84. The newly granted US patent is the first patent grant Affitech has received for this compound in a ma ... more
Affitech A/S announced that Dr Martin Welschof, its Managing Director, will leave his position at the end of the year. The Board of Directors has accepted his resignation with effect from 31st December, 2011 and will consider potential candidates to succeed him during the coming weeks.Dr Al ... more
Affitech A/S announced that IBC Generium has exercised the license to Affitech’s lead anti-VEGF antibody drug candidate AT001/r84. The license grant triggered a payment of Euro 2.5 million by IBC Generium to Affitech A/S and provides IBC Generium with the exclusive rights to develop and mar ... more
Affitech is a privately held biotechnology company based in Oslo, Norway, that has developed a comprehensive package of innovative technologies for the generation and use of human antibodies. The most significant aspect of the Company’s proprietary technologies includes its dominant worldwi ... more