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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Abzena PLC    ABZA   GB00BN65QN46

ABZENA PLC (ABZA)
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Abzena : OBI Pharma signs agreement with Abzena for ADC linker technology

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07/15/2017 | 10:43am CET

UK-headquartered drug development technology and services provider Abzena plc, has signed a licensing agreement and a master services and clinical supply agreement with Taipei, Taiwan biotech OBI Pharma (TPEx: 4174) for its novel site-specific ThioBridge antibody drug conjugate (ADC) linker technology to develop OBIs proprietary ADC, OBI-999 and a series of further ADCs as potential treatments for cancer.

ThioBridge links antibodies and other proteins to drugs, and according to Abzena has a unique ability to maintain the stability of the antibody and a consistent Drug-to-Antibody Ratio (DAR), which provides a more uniform product.

OBI-999 specifically targets cancer cells overexpressing the cancer antigen Globo H. The Globo series comprises a group of cancer-associated carbohydrate antigens including Globo H, SSEA3 and SSEA4 that are over-expressed in more than 14 types of cancers, including breast, lung, gastric and colorectal. By releasing the cytotoxic payload to the targeted cancer cells, the aim is to trigger cancer apoptosis while minimizing the drugs toxicities to normal cells.

OBI reported that it had observed encouraging results for OBI-999 in preclinical studies and plans to accelerate the development of OBI-999 and other Globo series ADCs. Phase I IND preparations are underway including Chemistry Manufacturing Control (CMC) planning and toxicology study design.

Concurrent with the signing of the license agreement, Abzena and OBI have entered into a Master Services and Clinical Supply Agreement for Abzena to provide OBI with further manufacturing process development and GMP manufacture of OBI-999 and further ADCs.

Under the terms of this agreement, OBI will receive a worldwide exclusive license to use the ThioBridge technology to research, develop and commercialize ADCs targeting the Globo series. Abzena will receive a small initial up-front payment from OBI and has the potential, subject to successful development, to receive up to 128 million, in aggregate, which may become payable upon achievement of certain development, regulatory and commercialisation milestones. In addition, Abzena will also receive royalties on sales of any approved ADC products that incorporate the ThioBridge technology.

Amy Huang, General Manager of OBI Pharma, Inc., said:

OBI is pleased to collaborate with Abzena for our OBI-999 and other potential pipeline candidates using Abzenas innovative ThioBridge technology. The collaboration enhances our ADC development program and we hope to develop effective cancer treatments for patients with cancers that express Globo series antigens.

Dr John Burt, CEO of Abzena, commented:

This latest license deal follows on from a successful evaluation program of the ThioBridge technology for OBI by Abzena.

The overall ADC development program for OBI draws on Abzenas chemistry research and manufacturing capabilities across the Cambridge (UK) and Bristol (Pennsylvania) facilities, and reaffirms the value of Abzenas integrated offering.

The expansion of our offering to include GMP manufacturing for ADCs has been enabled by our recent fundraising and this deal is a good example of our ability to continue to support our partners with our broader chemistry research services, process development and manufacturing capabilities.

(c) 2017 Gulf Sports Media All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( GBP)
Sales 2018 22,8 M
EBIT 2018 -13,8 M
Net income 2018 -12,9 M
Finance 2018 3,42 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 2,27x
EV / Sales 2019 1,79x
Capitalization 55,1 M
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Mean consensus BUY
Number of Analysts 3
Average target price 0,64  GBP
Spread / Average Target 149%
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Managers
NameTitle
William John Edward Burt CEO, Director, Head-Media & Investor Relations
Kenneth Thomas Cunningham Non-Executive Chairman
Julian Matthew Smith Chief Financial Officer, Secretary & Director
Jim Mills Senior Vice President-Technical Operations
Campbell Bunce Senior Vice President-Scientific Operations
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