HAIFA, Israel, May 31, 2016 /PRNewswire/ --
BioRap Technologies Ltd, the technology transfer company of the Rappaport Institute for Biomedical Research at the Technion - Israel Institute of Technology, has entered into a research collaboration, option and license agreement with Pfizer Inc. (NYSE: PFE) that aims to further develop a certain monoclonal antibody into potential new treatment options for a number of chronic autoimmune diseases.
The collaboration is based on a scientific breakthrough made by Prof. Nathan Karin and his research team, led by Dr. Anunu and Dr. Wildbaum, at the Rappaport Institute. The team developed a novel monoclonal antibody that - when bound with a certain immune checkpoint molecule - drives the activity of regulatory T-cells, a cell type that plays an important role in controlling autoimmunity.
Autoimmune diseases include Inflammatory Bowel Disease (Crohn's Disease and Ulcerative Colitis), Diabetes and Multiple Sclerosis.
Under the terms of the agreement, Pfizer has an exclusive option to obtain a license to the monoclonal antibody program. If the option is exercised, Pfizer will be responsible for further development and potential commercialization of any resulting product.
BioRap Technologies is eligible to receive potential milestone-based financial support from Pfizer linked to reaching agreed upon milestones. Biorap will receive an undisclosed upfront payment and royalties on sales from any product that may be successfully commercialized as a result of the collaboration. During the collaboration period, Pfizer will contribute its expertise to the research activities to be led by Professor Karin's team at the Rappaport Institute, together with Biond Biologics, Ltd. (Misgav, Israel) on behalf of BioRap.
Dr. Orit Shaked, CEO of BioRap Technologies, said: "As an academic research institute, we are excited by this first opportunity to collaborate with Pfizer and jointly develop potential therapeutics based on this novel mechanism. Through this research, our goal is to profoundly improve the treatment of major life and health-threatening autoimmune diseases, and thereby may provide relief to patients suffering from these debilitating, chronic diseases".
"We believe that the work of Professor Karin and his team has shown significant potential to create therapeutic value for patients with chronic autoimmune diseases, and we look forward to this collaboration and to what it may yield," said Michael Vincent, M.D., Ph.D., Chief Scientific Officer, Inflammation & Immunology, Pfizer.
About BioRap Technologies at the Technion's Rappaport Institute for Research in Biomedical Sciences
BioRap is the Rappaport Institute's technology transfer company led by Dr Orit Shaked and its liaison to industry, bringing promising scientific innovations generated at the Institute to collaboration with industry and commercialization. The company provides the legal and commercial frameworks for the inventions and innovations of RI researchers, protecting discoveries and innovations with patents, and working jointly with industry to bring scientific discovery to the market. For more information, visit http://www.bio-rap.com
Notes to Editors:
Professor Nathan Karin is the Head of the Department of Immunology at the Rappaport Faculty of Medicine of the Technion, and a member of the Rappaport Research Institute at the Technion. Prof. Karin focuses on developing novel strategies to characterize and selectively amplify the activity of distinct subsets of regulatory immune cell and by so doing restrain autoimmunity (Meiron et al Journal of Experimental Medicine, 2008; Zohar et al Journal of Clinical Investigation, 2014).
For more information:
Orit Shaked PhD, MBA CEO, Biorap Technologies Tel: +972-4-8295402 Fax: +972-4-8552296 Mobile: +972-54-7652313 P.O.Box 9697, Haifa 31096, Israel http://www.bio-rap.com
Ido Atiya Global Image Communications tell: +972-3-6880908 fax: +972-73-7255162 cell: +972-54-4289205 firstname.lastname@example.org
SOURCE BioRap Technologies LTD