ImaginAb secures Oxford BioMedica license for 5T4-based diagnostic
OXFORD, United KingdomóOxford BioMedica has announced that ImaginAb Inc. has exercised its option to acquire an exclusive worldwide license for the commercialization of an in-vivo 5T4-based imaging diagnostic. The companies began a research collaboration in 2011, and since then ImaginAb has reengineered Oxford BioMedica's anti-5T4 antibody into a smaller protein format with kinetics appropriate for in-vivo diagnostic imaging of tumors that express the 5T4 antigen. Per the terms of the agreement, ImaginAb will pay an upfront option exercise payment, and Oxford BioMedica is eligible to receive up to $4 million in initiation and development milestone payments if certain objectives are met, as well as royalties on product sales. ImaginAb is aiming to begin clinical development of the diagnostic next year.