NovImmune, an antibody-focused research and development biotech company, announced today that it successfully entered into an exclusive licensing agreement with Genentech Inc. a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY) for a proprietary anti-IL-17 fully human monoclonal antibody, and access to back-up antibodies. Recently, the IL-17 signaling pathway has received significant academic and corporate interest as its manipulation may potentially provide new treatment opportunities for major medical conditions.
“Genentech is very pleased to have the opportunity to work with NovImmune on the development and potential commercialization of this anti-IL-17 antibody. We are hopeful that it has the potential to benefit patients across a range of autoimmune diseases.”
The anti-IL-17 antibody was generated by NovImmune's research team and is currently in late preclinical development. Under the terms of the agreement NovImmune will receive an upfront payment and is eligible to receive clinical milestones and royalties on sales. Full financial terms have not been disclosed.
Jack Barbut, CEO, commented "We believe Genentech is the right partner for NovImmune for this program. Genentech brings an in-depth understanding of IL-17 biology and extensive experience in its ability to potentially identify patient populations that may benefit from such a compound thus maximizing chances of successful development."
James Sabry, Vice President of Genentech Partnering, said "Genentech is very pleased to have the opportunity to work with NovImmune on the development and potential commercialization of this anti-IL-17 antibody. We are hopeful that it has the potential to benefit patients across a range of autoimmune diseases."
Study: Antibody combination shows safety and anti-tumor activity in advanced cancer patients