ABBA Therapeutics enters into OmniAb® Platform License Agreement With Ligand
Basel, Switzerland – 28.03.2016 – ABBA Therapeutics AG announces it has entered into a worldwide license agreement with Ligand Pharmaceuticals (NASDAQ: LGND). Under this agreement, ABBA Therapeutics will use OmniAb® platform, an industry-leading technology including OmniRat®, OmniMouse® and OmniFlic®, to generate fully human mono- and bispecific antibodies for developing innovative immuno-oncology therapies. Ligand is to receive an initial access payment, and will be eligible to receive clinical milestone payments and royalties for each successful OmniAb antibody.
About ABBA Therapeutics
ABBA Therapeutics is a Swiss biotechnology company founded in Basel in 2016. ABBA Therapeutics focuses on developing next-generation antibody drugs for cancer immunotherapy. The lead project is to develop therapeutic antibodies targeting a novel immune checkpoint family member across both lymphoid and myeloid lineages for a better and broader response of cancer patients to IO therapies.
Further contact: info@abba-therapeutics.com; www.abba-therapeutics.com
About Ligand Pharmaceuticals (NASDAQ: LGND)
Ligand is a biopharmaceutical company focused on developing or acquiring technologies that help pharmaceutical companies discover and develop medicines. Ligand’s goal is to offer investors an opportunity to participate in the promise of the biotech industry in a profitable, diversified and lower-risk business than a typical biotech company. Ligand’s business model is based on drug discovery, early-stage drug development, product reformulation and partnering. Ligand partners with other pharmaceutical companies to leverage what they do best (late-stage development, regulatory management and commercialization) to ultimately generate our revenue.
Further contact: investors@ligand.com; www.ligand.com
About OmniAb®
OmniAb® is a patent-protected transgenic animal platform used in the discovery of fully human mono-and bispecific therapeutic antibodies. OmniAb includes three transgenic animal platforms for producing mono- and bispecific human therapeutic antibodies. OmniRat® is the industry’s first human monoclonal antibody technology based on rats. It has a complete immune system with a diverse antibody repertoire and generates antibodies with human idiotypes as effectively as wildtype animals make rat antibodies. OmniMouse® is a transgenic mouse that complements OmniRat and expands epitope coverage. OmniFlic® is an engineered rat with a fixed light chain for development of bispecific, fully human antibodies. The three platforms use patented technology, have broad freedom to operate and deliver fully human antibodies with high affinity, specificity, expression, solubility and stability. affinity, specificity, expression, solubility and stability.