– PRESS RELEASE –
For immediate release
Lyon, France, december 6th, 2022 – OREGA Biotech announces today an exclusive license agreement under which OREGA Biotech grants Genmab full, worldwide rights to its first-in-class immuno-oncology antibody program against a novel and undisclosed target. This license agreement results from a fruitful research collaboration between the two companies initiated in 2020.
“We are thrilled to partner with Genmab, the renowned international biotechnology company“, said Jeremy Bastid, Chief Executive Officer of OREGA Biotech. “Our team discovered the role of this novel target in impairing the response to the PD1/PDL1 immune checkpoint inhibitors and demonstrated that a neutralizing antibody could reverse this effect and improve the response to cancer immunotherapy. We have been working very closely with Genmab’s scientific team for more than 2 years and we are convinced that their scientific skills and development capabilities will be of paramount importance to further develop this asset”, he added.
Gilles Alberici, President of OREGA Biotech, further commented: “This licensing agreement marks another major step forward for our company and team after the successful out-licensing of our CD39 antibody program which is now entering phase 2 clinical trial. Given the track record of Genmab in developing and delivering innovations to the patients, we believe that Genmab is very well positioned to bring this novel antibody program to the clinic”, he added.
Genmab will be responsible for the research, development, manufacturing and commercialization of the antibody. The parties will aim to enter into an additional agreement for OREGA Biotech to support Genmab’s preclinical research activities related to this antibody.
“I would like to take the opportunity of this announcement to congratulate our scientists who did a fantastic work in advancing this antibody program and collaborating successfully with our Genmab’s colleagues despite the Covid-19 pandemic. I also would like to thank our partners from Inserm Transfert for their continued support during the licensing process”, Jeremy Bastid concluded.
OREGA Biotech will receive an upfront payment and is eligible to receive development, regulatory and commercial milestone payments plus royalties on commercial sales. The financial terms of the agreement have not been disclosed.
About OREGA Biotech
OREGA Biotech specializes in the discovery and the development of first-in-class monoclonal antibodies for cancer immunotherapy. Our in vivo screening platform aims at discovering and validating novel immune checkpoint inhibitors and regulators of anti-PD1 response. Incepted in 2010, OREGA Biotech is based on the research conducted by its academic cofounders Nathalie Bonnefoy, Armand Bensussan and Jean-François Eliaou. Our business strategy is to establish preclinical proof of concept with new targets prior to enter into early-stage partnership or license agreements with larger biotech or pharmaceutical companies. Our lead asset, an anti-CD39 monoclonal antibody, has been out-licensed to Innate Pharma and then partnered with AstraZeneca. The company is managed by Jeremy Bastid, CEO and Gilles Alberici, President.
Jeremy Bastid, Chief Executive Officer
Tel.: +33 (0)4 37 49 87 20
Email : email@example.com