PRAGUE, CZECH REPUBLIC--(Marketwired - Oct 20, 2016) -
SOTIO and NBE Therapeutics sign collaboration and license agreement for next-generation antibody-drug conjugates
Basel, Switzerland & Prague, Czech Republic - October 20, 2016 - NBE Therapeutics AG and SOTIO a.s. today announced that the companies have entered into a collaboration for the development of next-generation antibody-drug conjugates (ADCs) for improved cancer therapy. Under the agreement, NBE and SOTIO will collaborate on the discovery, non-clinical development and manufacturing of novel ADC products against undisclosed targets. The ADC products will be based on NBE's proprietary antibody discovery and conjugation platforms, including NBE's Transpo-mAb™ antibody platform, its site-specific SMAC™ conjugation technology and its novel ultra-potent toxin platform. SOTIO will have global responsibility for clinical development, registration and commercialization of the ADC products.
Upon exercise of the target options, NBE will be eligible for an option exercise fee, as well as milestone payments and royalties based on global net sales of the products. In addition, NBE will be reimbursed for its R&D expenses incurred in connection with the development of the product in collaboration with SOTIO.
As part of the deal, PPF Group, the owner of SOTIO, has committed to invest CHF10m in the next financing round of NBE.
Dr Ulf Grawunder, CEO of NBE Therapeutics commented:
"We are excited about entering a strategic collaboration with SOTIO. This partnership validates our ADC platform and will allow us to further expand our ADC product pipeline. SOTIO's proven clinical development expertise will help us to develop our ADC platform to the next level."
Ladislav Bartonicek, CEO of SOTIO and shareholder of PPF commented:
"NBE's product platform addresses the key issues of today's antibody-drug conjugates. With the very strong preclinical data generated by NBE that show superiority in terms of potency, safety and product homogeneity, as well as strong immunotherapeutic effects, this platform has the potential to provide new superior treatment options for cancer patients."