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Albumedix and Eleven Biotherapeutics announce albumin variant technology agreement
02-03-2016
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CAMBRIDGE, Mass. &
COPENHAGEN, Denmark—Eleven Biotherapeutics Inc. and Albumedix recently announced that they have entered into an agreement that will see Albumedix acquire Eleven’s proprietary
Supermin albumin variant assets.
Albumedix is a global player in albumin engineering and protein manufacturing and
has a growing albumin-based drug formulation and delivery business working with pharmaceutical and biotechnology companies worldwide. Using its AMP-Rx
platform, Eleven has developed recombinant albumin variants to extend the systemic concentrations of drugs beyond what can be obtained from natural albumin.
Eleven’s albumin technology will complement Albumedix’s proprietary drug delivery platform, Veltis, extending the array of technologies available
for use by clients developing drugs with longer duration of systemic exposure.
Commenting on the agreement, Peter
Rosholm, vice president of Albumedix said: “Albumedix has a credible track record in the innovation and supply of commercial recombinant albumin. The
acquisition of Eleven's exciting albumin platform, which will be incorporated within our proven Veltis technology portfolio, will strengthen our existing
offering and mean we are able to provide customers with an even more comprehensive solution to improve the therapeutic impact of their
products.”
“We are very pleased that Albumedix, a global leader in protein manufacturing, will be
seeking to commercialize our technology to the market, with Eleven still retaining the right to license the technology for our own research,” said Dr.
Abbie Celniker, president and CEO of Eleven Biotherapeutics. “We look forward to efforts by Albumedix in helping other leading companies to apply this
technology to enhance the product profile of drugs for the treatment of unmet medical needs.”
The terms of
the agreement are not disclosed but under the agreement, Albumedix will pay Eleven an upfront fee as well as a share of commercialization income.
SOURCE: Albumedix/Eleven Biotherapeutics news release
Code: E02031602 Back |
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