1 April 2020
OBT achieves further milestone in Boehringer Ingelheim collaboration
The Boehringer Ingelheim drug candidates are two of several assets approaching or in clinical development whose discovery has been enabled by OBT’s proprietary OGAP® target discovery platform
OBT receives milestone payment associated with advance of drug candidate
OXFORD, United Kingdom and SAN JOSE, Calif., March 31, 2020 (GLOBE NEWSWIRE) -- Oxford BioTherapeutics Ltd. (“OBT”), a clinical stage oncology company with a pipeline of immuno-oncology and antibody drug conjugate-based therapies, today announced that Boehringer Ingelheim (“BI”) has selected a second asset to advance into formal IND enabling studies. The asset discovery was enabled by OBT’s proprietary OGAP® target discovery platform. It is one of several assets that have emerged from OGAP including several assets in preclinical and clinical development by OBT. BI’s selection triggered a milestone payment to OBT.
“We view BI’s selection of a second asset to move into development as further confirmation of the value of our OGAP platform to identify novel targets that can be substrates for innovative new therapies,” said Christian Rohlff, Ph.D., Chief Executive Officer of OBT. “OBT’s platforms are designed to discover novel therapeutic targets and engineer antibody constructs to those targets, including bi-specific, antibody-drug conjugate (ADC) and antibody-dependent cell-mediated cytotoxicity (ADCC) therapeutics to best address difficult-to-treat cancers. We look forward to continued advancement of our partnered and in-house programs, including our most advanced asset, OBT076, a CD205 targeting antibody, which is in Phase 1 clinical development in the U.S. for patients with high risk breast cancer and other solid tumors.”
OBT and BI’s collaboration employs OBT’s OGAP target discovery platform to identify novel drug discovery targets that can be substrates for innovative antibody-based therapeutics. Under the terms of the agreement, BI is responsible for the development and commercialization of antibody product candidates that interact with the novel targets identified by OGAP. OBT will receive development and regulatory milestone payments and royalties on any future product sales. To date, BI has exercised two options under the agreement and has selected two therapeutic candidates for further development.