EvoGenix announces antibody collaboration with CSL
June 1, 2006.
Antibody therapeutics company EvoGenix Limited (ASX:EGX) today announced that it had
entered into a Technology Collaboration agreement with CSL Limited (ASX:CSL). EvoGenix will
apply its proprietary technologies to antibody products selected by CSL from its pipeline. The
collaboration is designed to generate superior antibodies that are more effective as human
therapeutics.
CSL will have the right to commercialise the products, with EvoGenix to receive royalty
payments as therapeutics emerging from the collaboration reach the market.
Under the terms of the agreement, EvoGenix will receive research payments to carry out work
on CSL’s products. Each project carries a success payment for achievement of project goals, as
well as milestone payments as the product advances through the subsequent stages of clinical
testing and regulatory approval.
The agreement marks the growing interest by Australian healthcare companies in the dynamic
antibody sector, which is seen as the source of many of the blockbuster drugs of the future.
In welcoming the agreement, Dr Andrew Cuthbertson, CSL’s Chief Scientific Officer commented,
“CSL has identified antibody therapeutics as a focus of its expanding product pipeline. We are
delighted to access key technologies which can accelerate development of our antibodies as
effective treatments through this collaboration with EvoGenix. “
Dr Rob Crombie, VP for Business Development with EvoGenix, noted “We are looking forward to
a highly productive relationship in developing these projects with CSL. As Australia’s leading
healthcare company, and with its track record of success in taking biopharmaceuticals to the
market, CSL is ideally placed to accelerate antibodies emerging from the collaboration through
to becoming successful products.”
The agreement is the second major collaboration entered by EvoGenix to exploit its proprietary
antibody development technologies. The first was signed with pharmaceutical giant
GlaxoSmithKline late last year. EvoGenix expects to utilise its proprietary technologies in
additional selected relationships over the next 2-3 years.
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