Abzena plc (AIM:ABZA) has signed an agreement with an unnamed a San Diego-based biopharmaceutical company worth up to US$300mln to license out its ThioBridge technology.
ThioBridge is an antibody drug conjugate linker, which in layman’s terms means it attaches antibodies and other proteins to drugs.
The platform is unique in its ability to maintain the stability of the antibody and a consistent drug-to-antibody ratio, which provides a more consistent, stable product.
The deal covers 10 potential antibody drug conjugates (ADCs) across a wide range of illnesses and diseases.
Abzena has also entered what’s called a master agreement, which allows multiple programmes to be carried out over an extended period using the company’s chemistry services.
The potential value of the deal cited above consists of licence fees and milestone payments. In addition, Abzena would receive a royalty on sales of approved drugs incorporating its technology.
"Abzena and the US biopharmaceutical company has enjoyed an ongoing collaborative research programme to evaluate ThioBridge up until now,” said Abzena chief, John Burt.
“The collaboration has allowed both parties to build a strong working relationship and to demonstrate the value of the ThioBridge technology in creating novel ADCs.”