SPY397.37+3.48 0.88%
DIA321.28+1.89 0.59%
IXIC11,434.74+170.29 1.51%

Biocytogen Reports Antibody Deal With Merck Whereby Co. Will Grant Merck Sole License To Evaluate Proprietary Antibodies Against At Least 3 Distinct Targets With Option To Buy Some Assets At Later Date, No Terms Disclosed

Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (Biocytogen) announced that it has entered into an evaluation and option agreement with Merck KGaA, Darmstadt, Germany to grant them a sole license to evaluate

Benzinga · 04/29/2022 08:05

Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (Biocytogen) announced that it has entered into an evaluation and option agreement with Merck KGaA, Darmstadt, Germany to grant them a sole license to evaluate Biocytogen's proprietary antibodies against at least three distinct targets with an option to acquire some of the assets at a later date for therapeutic product development for all uses worldwide.

Under the agreement, Biocytogen will provide Merck KGaA, Darmstadt, Germany antibodies directed against at least three targets specified by them from Biocytogen's Project Integrum (also called HiTS Platform), which are generated by leveraging Biocytogen's proprietary RenMice™ Platform. Merck KGaA, Darmstadt, Germany will carry out feasibility tests and be responsible for further development and commercialization of the products if exercising an option. Additional targets subject to mutual discretion may be included under this agreement.

Dr. Yuelei Shen, President and CEO of Biocytogen, said: "Thanks to the recognition by Merck KGaA, Darmstadt, Germany of our proprietary platform and antibody discovery capabilities, we believe that differentiated candidates generated from our innovative models and discovery platform can quickly advance novel antibody-based therapeutics. Our RenMice™ based Project Integrum aims to discover antibodies against more than 1,000 targets. We welcome collaboration with partners worldwide to realize the full potential of this platform."