China’s Innovent works with Adimab in second bispecific deal this month

China flag
China flag

Suzhou-based biotech Innovent Biologics is expanding ties to identify and develop monoclonal and bispecific antibodies by enhancing a collaboration pact with Adimab to generate IgGs for multiple targets--marking the second such announcement this month.

Innovent will identify the targets and develop any potential candidates. It will also hold global rights, according to a statement from the company. Financial terms were not disclosed.

Earlier this month, Innovent agreed to a potential $120 million partnership deal with Shanghai-based biotech startup EpimAb Biotherapeutics on bispecific antibodies that builds on a landmark deal in the same space reached with Eli Lilly ($LLY) last year and that has since expanded.

Free Daily Newsletter

Like this story? Subscribe to FiercePharma!

Biopharma is a fast-growing world where big ideas come along daily. Our subscribers rely on FiercePharma as their must-read source for the latest news, analysis and data on drugs and the companies that make them. Sign up today to get pharma news and updates delivered to your inbox and read on the go.

Innovent will buy the rights to EpimAb’s Fabs-In-Tandem Immunoglobulin, dubbed FIT-Ig, a proprietary platform to develop multiple bispecific antibodies for China. In doing so, it will and obtain the rights to out-license outside of the region in return for an upfront payment, milestones and royalties.

Innovent and Adimab initially began work three years ago on a single target for Adimab to develop into a drug candidate. Under that deal, Innovent held China rights to any therapy developed, while Adimab kept global rights. Further details of that deal were also not disclosed.

"We know from our previous projects that Adimab's reputation as the leading protein engineering company in the industry is well deserved. An antibody that came out of our relationship with Adimab is part of our recent partnership with Eli Lilly and Company," Michael Yu, CEO and co-founder of Innovent, said in a statement.

"Gaining broader access to Adimab was very important to achieving our long-term goals, so we are very pleased to have expanded our relationship."

Innovent lists 10 antibodies in development covering indications from ophthalmology to oncology to inflammatory diseases.

Adimab uses its antibody discovery and optimization platform and custom antibody libraries to work with major drug companies, including Merck ($MRK), Novartis ($NVS) and Eli Lilly, among others, as well as academic researchers.

- here's the release

Related Articles:
China's Innovent in $120M bispecifics partnership with EpimAb
Lilly and China's Innovent Biologics tie up on cancer drug candidates with $56M upfront


Suggested Articles

Glenmark hopes to raise cash from selling drugs outside of its focus therapeutic areas and from finding new investors for its API and innovation spinoffs.

Sun's Shanghvi took a 99% pay cut last year. Dr. Reddy's copies of Copaxone and NuvaRing were rejected by the FDA. Natco eyes China amid hardship.

There are five or six potential deals similar to Takeda's mooted European sale Stada could go after, CEO Peter Goldschmidt said.