SAN FRANCISCO, CA--(Marketwired - Apr 7, 2015) - Amphivena Therapeutics, Inc., a developer of cancer immunotherapeutics, today announced the achievement of the first and second milestones under the terms of its agreement with Janssen Biotech, Inc. Amphivena and Janssen have selected a clinical candidate against an undisclosed tumor antigen for further development in hematologic malignancies. The milestones triggered the release of payments to Amphivena. The financial details were not disclosed. The agreement was facilitated by Johnson & Johnson Innovation.
Amphivena's clinical candidate is based on the RECRUIT-TandAb platform, licensed from Affimed GmbH. RECRUIT TandAbs are bispecific molecules, with two binding sites for each specificity, that mediate potent and efficient tumor cell lysis by selectively binding to a tumor antigen on a cancer cell and the CD3 receptor complex on a T cell. They offer pharmacokinetic advantages over smaller, monovalent bispecific constructs.
"We are delighted to have achieved our milestones earlier than anticipated and look forward to advancing our therapeutic candidate rapidly to the clinic to address the unmet needs of patients suffering from life-threatening cancers," said Jeanmarie Guenot, Ph.D., president and chief executive officer of Amphivena Therapeutics.
"We believe Amphivena's clinical candidate holds significant promise as a new, potent anti-cancer therapy," stated Luke Evnin, Managing Director of MPM Capital, and Amphivena's lead investor. "We also appreciate Janssen's ongoing support of, and participation in this important program, which we believe offers further validation of this novel approach to cancer treatment."
Amphivena Therapeutics, Inc. is a preclinical stage company based in San Francisco, California developing an innovative immunotherapy for hematologic malignancies. In July 2013, Amphivena raised $14 M in a Series A financing led by MPM Capital. Amphivena also entered into an agreement with Janssen Biotech, Inc. that grants Janssen the exclusive right at its discretion to acquire Amphivena following IND approval. Janssen provided Amphivena with an initial upfront payment plus additional contingent payments based on reaching predetermined milestones in return for its rights under the agreement. For more information, please visit www.amphivena.com.