BioInvent International and Daiichi Sankyo have entered into a license and discovery agreement to develop new therapeutic antibodies against multiple targets.
The deal will allow Daiichi Sankyo access to BioInvent's discovery and development technology platform and in-house antibody expertise.
In return, BioInvent will be granted access to Japanese markets and will also secure certain co-promotion rights in Scandinavia and the Baltic countries.
The company will also receive an upfront access fee and annual maintenance fees for its 20 billion-strong antibody library as well as success-based milestone payments. In addition, Daiichi Sankyo will fund all research work and provide BioInvent with royalties on any commercialised products.
BioInvent CEO Svein Mathisen said that BioInvent is established as a trusted partner for the discovery and development of therapeutic antibodies, and with this agreement the company is continuing to grow its presence and recognition in the Japanese market.
BioInvent's proprietary n-CoDeR library contains more than 20 billion highly diverse, fully human antibody fragments that have been created using BioInvent's patented technology platform, generating antibodies with high affinity and selectivity.