OR WAIT 15 SECS
Shire will receive exclusive license to develop and commercialize AB Biosciences' pan receptor interacting molecule program for autoimmune and inflammatory diseases.
On Jan. 30, 2018, Shire and AB Biosciences, a biotechnology company based in Boston, MA, announced that they have entered into an agreement granting Shire an exclusive license to develop and commercialize AB Biosciences’ pan receptor interacting molecule (PRIM) program, which uses AB Biosciences’ proprietary oligomeric Fc technology platform.
PRIM, a recombinant immunoglobulin product candidate, has shown enhanced biological activity in preclinical models of autoimmune and inflammatory diseases, according to Shire.
Under the terms of the agreement, AB Biosciences will grant Shire an exclusive, worldwide license to its intellectual property relating to its PRIM program. AB Biosciences will receive an upfront license fee payment from Shire and is eligible to receive contingent research, development, and commercialization milestone payments as well as royalty payments. No further terms of the agreement were disclosed.
“AB Biosciences has demonstrated innovation in the area of antibody technology and protein design, and Shire is pleased to continue to advance this program,” said Andreas Busch, PhD, head of Research and Development and chief scientific officer at Shire, in a company press release. “The novel design of this investigational antibody-derived recombinant protein therapeutic and promising biological activity demonstrated in preclinical models makes the PRIM program an exciting opportunity for Shire to further expand its leadership and commitment to treating patients with autoimmune disorders.”
“This agreement provides the opportunity to accelerate the development of the PRIM program and potentially benefit patients with autoimmune and inflammatory disorders that are currently treated with the traditional human IVIg [intravenous immunoglobulin] preparations,” said Yen-Ming Hsu, PhD, president and CEO of AB Biosciences, in the press release. “As a global biotech leader in the development and commercialization of biologic therapeutics, Shire is the ideal development and commercialization partner for our innovative PRIM program, particularly given their proven developmental expertise and continuing success in their IVIg commercial franchise.”