20 January 2015
Oxford BioTherapeutics Grants an Exclusive License to Boehringer Ingelheim
Oxford BioTherapeutics Grants an Exclusive License to Boehringer Ingelheim for Development and Commercialization of Antibody Products to an Oncology Target
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."