OXFORD, England, January 14, 2015 /PRNewswire/ --
Oxford BioTherapeutics announces today that Boehringer Ingelheim has exercised an option to receive exclusive rights to an oncology target from an ongoing discovery collaboration. The target was discovered using Oxford BioTherapeutics' proprietary OGAP® system, which incorporates one of the world's largest proprietary proteomic databases, integrating clinical, experimental and expression data.
This represents the first option exercised under the companies' oncology target discovery and validation collaboration established in 2013. Under the terms of the agreement, Boehringer Ingelheim will be responsible for the future development and commercialization of antibody products to the target. Oxford BioTherapeutics will receive development and regulatory milestone payments, and royalties on any future product sales.
"We are delighted to have reached this important milestone in the collaboration with Boehringer Ingelheim, which validates both our ongoing collaboration with a world-leading oncology company and our unique OGAP® target discovery system," said Dr Christian Rohlff, CEO of Oxford BioTherapeutics. "Antibody therapeutics are a focus area for oncology R&D, and the selection of their targets is important for their success. With our world-leading targeting technology and in-house pipeline of novel antibody-drug conjugates, Oxford BioTherapeutics is rapidly establishing its position as a partner of choice for the development of new generation cancer therapeutics."
About Oxford BioTherapeutics
Oxford BioTherapeutics is developing a range of innovative antibody-drug conjugates (ADCs) for the treatment of cancer. The company's ADCs are based on its proprietary OGAP® targeting platform, and incorporate novel antibody and cancer toxin technologies accessed from leading companies in the field. Oxford BioTherapeutics' network of collaborations provides a unique range of complementary ADC technologies, allowing the company to select the optimal combination for each target identified by its OGAP® system. OGAP® incorporates one of the world's largest proprietary proteomic databases, with data on over 5,000 cancer cell proteins providing unique, highly-qualified oncology targets that are selected for optimal ADC activity.
Dr Christian Rohlff
Citigate Dewe Rogerson
SOURCE Oxford BioTherapeutics