Avacta and Daewoong Agree Collaboration and License Agreement with AffyXell Therapeutics
03 Febbraio 2020 - 9:48AM
Business Wire
License agreement to utilise Affimer proteins
in next generation cell and gene therapies
Avacta Group plc (AIM: AVCT), the developer of Affimer®
biotherapeutics and reagents, is pleased to announce that it has
signed a collaboration and license agreement with AffyXell
Therapeutics (“AffyXell”), the recently established joint venture
with Daewoong Pharmaceutical (“Daewoong”), to develop Affimer
proteins to be used by AffyXell for the generation of new cell and
gene therapies.
Avacta and AffyXell will now work together to develop Affimer
proteins against a range of targets which, when produced by
mesenchymal stem cells (MSCs), are intended to inhibit inflammatory
and autoimmune pathways and improve the overall efficacy of MSCs,
creating a next generation of stem cell therapies.
The initial focus for AffyXell will be on inflammatory and
autoimmune diseases. In the longer term, there is potential for
AffyXell to address oncology uses for these Affimer-enabled cell
and gene therapies.
Under the terms of the collaboration and license agreement,
Avacta’s research and development costs associated with generation
of the Affimer proteins will be funded by AffyXell. In addition,
Avacta will retain the rights to commercialise the Affimer proteins
outside of the field of cell therapies.
Dr Alastair Smith, Chief Executive Officer of Avacta Group,
commented: “The potential for AffyXell’s new class of cell
therapies, which can be applied to a wide range of inflammatory and
autoimmune diseases, is enormous. We are therefore very excited by
the opportunity to be part of this new venture and to demonstrate
the power of Affimer proteins in the field of engineered cell
therapies.
“Our objective is for these cell therapies to finally fully
address diseases, such as inflammatory bowel diseases and multiple
sclerosis, as well as other autoimmune diseases, such as chronic
obstructive pulmonary disease. The potential to make a difference
in the quality of life for millions of patients continues to
inspires us, as we know it does our colleagues at Daewoong as
well.
“From a commercial perspective, the global stem cell market is
expected to be worth USD16bn [1] by 2025. AffyXell has a
unique opportunity to combine two world-class technologies,
Avacta’s Affimer antibody mimetic platform and Daewoong’s
proprietary technology for generating “off-the-shelf” allogeneic
MSC therapies to create the next generation of stem cell therapies.
We believe that this has the potential to create substantial value
for stakeholders in the near future.”
Seng-ho Jeon, CEO of Daewoong Pharmaceutical, commented:
“We are very excited to contract this Collaboration and License
Agreement followed by the successful establishment of an innovative
joint venture, AffyXell. Daewoong and Avacta will make every effort
to AffyXell’s growth and its development of distinguished and
innovative cell and gene therapy treatment.”
“As announced at the J.P. Morgan Healthcare Conference this
January, Daewoong has been inspired to partner global biotechnology
companies like Avacta to create the best and the most comprehensive
technology in new drug development field. Starting from our very
first cell and gene therapy specialised joint company, we reaffirm
our belief that our contract can not only further establish
AffyXell to thrive as an leader of cell and gene therapy, but also,
allow us to enhance quality of lives to those who suffer from rare
and intractable conditions.”
[1]
https://www.grandviewresearch.com/press-release/global-stem-cells-market
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Zyme Communications (Trade and Regional Media) Katie
Odgaar Tel: +44 (0)7787 502 947
katie.odgaard@zymecommunications.com
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