MDS Proteomics And Abgenix Announce Exclusive Agreement To Develop Proteomic-Based Antibody Therapies,
MDS proteomics, a leading proteomics-based drug discovery company, and Abgenix, Inc. (Nasdaq: ABGX), an antibody-based biopharmaceutical company, today announced a collaboration to develop and commercialize antibody drugs. Leveraging MDS Proteomics’ proprietary proteomics systems and Abgenix’ human antibody technologies, the companies will identify up to 150 targets for generation of human therapeutic antibody candidates intended for further development and eventual treatment for a broad range of complex diseases.
Abgenix will collaborate with MDS Proteomics to complement its current drug target capabilities. MDS Proteomics’ functional approach to proteomics is designed to accelerate therapeutic development by combining protein pathway biology, ultra-sensitive mass spectrometry analysis and high performance super-computing to yield the most relevant targets for designing new medicines. Once high quality targets are identified by MDS Proteomics, Abgenix, independently or jointly with MDS Proteomics, will develop and commercialize the proteomics–derived antibody therapies. Both companies will receive reciprocal milestone and royalty payments for products resulting from this development alliance. Separately, Abgenix entered into an agreement with MDS Proteomics to purchase $15 million (USD) of MDS Proteomics common stock. The Abgenix investment in MDS Proteomics follows an investment made earlier this year by IBM Life Sciences.
"This alliance brings two leaders in their respective fields together with a common purpose, to speed the development of new drugs for treating some of the major diseases plaguing our society today," said Frank Gleeson, president and chief executive officer of MDS Proteomics. "Combining our expertise and approach to identifying high quality targets with Abgenix’ superior antibody technology, we will establish a powerful platform for producing antibody therapies from proteomics."
"We are excited to collaborate with MDS Proteomics, a leading proteomics company, in a large-scale effort to help change the nature of the drug development process," said R. Scott Greer, chairman and chief executive officer of Abgenix. "With MDS Proteomics’ ability to drill down into each target area through the use of proteomics, coupled with our leading technology for developing fully human monoclonal antibody therapies, we hope to build a comprehensive platform for producing proteomic-based antibody therapies."
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Topic World Mass Spectrometry
Mass spectrometry enables us to detect and identify molecules and reveal their structure. Whether in chemistry, biochemistry or forensics - mass spectrometry opens up unexpected insights into the composition of our world. Immerse yourself in the fascinating world of mass spectrometry!
Topic World Mass Spectrometry
Mass spectrometry enables us to detect and identify molecules and reveal their structure. Whether in chemistry, biochemistry or forensics - mass spectrometry opens up unexpected insights into the composition of our world. Immerse yourself in the fascinating world of mass spectrometry!