LUND, Sweden, Nov. 26, 2020 /PRNewswire/ -- Cantargia AB (OMXS: CANTA) and BioInvent International AB (OMXS: BINV), today announced that BioInvent has been contracted as manufacturer of Cantargia's antibody CAN10 in preclinical development for the treatment of systemic sclerosis and myocarditis.
CAN10 is fully humanized monoclonal antibody targeting IL1RAP. CAN10 has been designed to block the signalling of the inflammatory cytokines IL-1, IL-33 and IL-36 resulting in unique properties for treatment of inflammatory diseases. Under the agreement, which may generate revenue for BioInvent of up to SEK 30 million, BioInvent will provide process development, scale-up, supply of material for toxicological studies and clinical grade material in 1000L scale for use in phase I and II clinical trials. The majority of the work will be completed in 2021 to start clinical trials as early as possible during 2022.
Cantargia, which specializes in the development of antibody-based therapeutics for various types of cancer and inflammatory diseases, is a new manufacturing customer for BioInvent.
"We are pleased to add Cantargia to our growing list of manufacturing customers, which is a clear testament to our expertise in state-of-the-art antibody manufacturing and the quality of our processes," said Martin Welschof, CEO of BioInvent.
"We are very excited to start working with BioInvent to advance our CAN10 program towards clinical trials as quickly as possible. Based on Bioinvent's deep antibody knowledge and recent investments in manufacturing capabilities, we are confident in efficient and timely manufacturing of CAN10," said Göran Forsberg CEO at Cantargia.
BioInvent International AB (OMXS: BINV) is a clinical stage company that discovers and develops novel and first-in-class immuno-modulatory antibodies for cancer therapies, with two ongoing programs in Phase l/ll clinical trials for the treatment of hematological cancer and solid tumors, respectively. Two preclinical programs in solid tumors are expected to have entered clinical trials by the end of 2020. The Company's validated, proprietary F.I.R.S.T™ technology platform simultaneously identifies both targets and the antibodies that bind to them, generating many promising new drug candidates to fuel the Company's own clinical development pipeline or for additional licensing and partnering.
The Company generates revenues from research collaborations and license agreements with multiple top-tier pharmaceutical companies, as well as from producing antibodies for third parties in the Company's fully integrated manufacturing unit. More information is available at www.bioinvent.com.
Cantargia AB (publ), reg. no. 556791-6019, is a biotechnology company that develops antibody-based treatments for life-threatening diseases. The basis for this is the protein IL1RAP that is involved in a number of diseases and where Cantargia has established a platform. The main project, the antibody CAN04, is being studied clinically as combination therapy with chemotherapy or immune therapy with a primary focus on non-small cell lung cancer and pancreatic cancer. Positive interim data from the combination with chemotherapy show a higher response rate than would be expected from chemotherapy alone. Cantargia's second project, the antibody CAN10, addresses treatment of serious autoimmune/inflammatory diseases, with initial focus on systemic sclerosis and myocarditis.
Cantargia is listed on Nasdaq Stockholm (ticker: CANTA). More information about Cantargia is available at www.cantargia.com.
For further information, please contact:
Göran Forsberg, CEO
+46 (0)46 275 62 60
BioInvent International AB (publ)
Co. Reg. No.: 556537-7263
Visiting address: Ideongatan 1
Mailing address: 223 70 LUND
Phone: +46 (0)46 286 85 50
The press release contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as the date they are made and are, by their very nature, in the same way as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios described in this press release.
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