AvidBiotics Announces Research Collaboration with Full Spectrum Genetics

SOUTH SAN FRANCISCO, Calif., Sept. 10, 2013 /PRNewswire/ -- AvidBiotics today announced a research collaboration with Full Spectrum Genetics for the purpose of optimizing multiple therapeutic protein candidates from AvidBiotics' Micacide™ protein immuno-oncology and antiviral platform.  AvidBiotics also announced that Bob DuBridge, Ph.D., Chief Executive Officer of Full Spectrum Genetics, has joined the AvidBiotics Scientific Advisory Board.

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"Micacide™ proteins represent a new class of molecules that harness the innate cellular immune response to efficiently detect and destroy cancerous or virus-infected cells," said James L. Knighton, AvidBiotics' President. "Full Spectrum Genetics' MapEng™ technology enables the rapid, simultaneous screening of many protein variants, allowing us to quickly identify those molecules with the best binding properties for further development as potential therapeutics."

Under the terms of the agreement, Full Spectrum Genetics will be responsible for generating and analyzing a multitude of variants of up to five specified AvidBiotics' protein molecules using its MapEng™ platform. AvidBiotics will receive worldwide rights to develop and commercialize product candidates arising from the collaboration. Full Spectrum Genetics will receive an upfront payment and is eligible for additional milestones and royalties on successfully commercialized molecules. Additional terms of the agreement were not disclosed.

"Traditional methods to understand protein-ligand interactions that affect disease outcomes often yield incomplete information despite the considerable time and expense involved," said Dr. DuBridge. "Our MapEng™ platform is designed to generate these insights significantly faster, less expensively and in more detail than other technologies, thus enabling the engineering of optimized proteins for further development by AvidBiotics."

Bob DuBridge Biography

Bob DuBridge, Ph.D. is the CEO of Full Spectrum Genetics, a company that he founded in 2010. Prior to that, he was employed at PDL BioPharma, Inc. from 2003 to 2010, ultimately serving as Head of New Technologies, and before that at Eos Biotechnology from 1999, which was acquired by PDL in 2003. Dr. DuBridge has also held senior scientific and management positions at such biotechnology firms as Lynx Therapeutics, Cell Genesys, Inc. and Genentech, Inc. He received his Ph.D. in genetics from Stanford University.

About Full Spectrum Genetics

Founded in 2010, Full Spectrum Genetics, Inc. is a privately-held protein engineering platform and product company.  The Company's MapEng™ platform enables ultra-high throughput quantification of the effect on binding of every possible single amino acid substitution within a protein binding site.  The MapEng™ platform provides a comprehensive analysis of protein structure-function relationships, with multiple applications for generating better biotherapeutics and diagnostics.  Full Spectrum Genetics' activities cover the spectrum from antibody discovery to generating proteins with improved properties including modulation of binding affinity to one or more targets, de-immunization, humanization, half-life extension and increased stability.  For more information on Full Spectrum Genetics and its MapEng™ platform, visit www.fsgene.com.

About AvidBiotics

AvidBiotics is a developer of novel, non-antibody proteins targeting bacteria, virus infected cells and cancers. AvidBiotics has two proprietary product platforms. The first is a new class of tailorable, targeted bactericidal agents for use in the treatment or prevention of specific bacterial infections or contaminations. AvidBiotics' second technology platform specifically flags virus-infected or cancerous cells for enhanced destruction by the Natural Killer and T-cells of the potent innate immunity system. AvidBiotics focuses on human therapeutic applications of its technologies, both on its own and in partnership with governmental agencies and research institutions, while taking advantage of further near-term collaborative opportunities offered by specific applications of its products and technology platforms in areas such as food safety, biodefense and animal husbandry. The company has a partnership with DuPont Nutrition & Health aimed at commercializing its antibacterial protein technology in the field of food safety. For more information on AvidBiotics, please visit the company's web site at http://www.avidbiotics.com.

SOURCE AvidBiotics