MedImmune and Abpro team on Ang2-VEGF targeting antibody

29-Nov-2016 - Last updated on 30-Nov-2016 at 08:24 GMT

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AstrzaZeneca’s MedImmune has set up a spin-out company with Abpro that will develop a bi-specific antibody therapeutic.

The joint venture – AbMed - will focus on an antibody that targets angiopoietin-2 and vascular endothelial growth factor (Ang2-VEGF).

The firm will develop the molecule for a number of undisclosed therapeutic areas.

AbMed – which will operate as a subsidiary of Abpro – will hold development and commercialization rights to the programme, while MedImmune will receive development, regulatory and sales milestones and royalties.

An Abpro Spokesman told us the firm "will be leveraging its DiversImmune platform to bring the antibody to clinical trials. Abpro has an extensive network of manufacturing partners to prepare for clinical trials. We are committed to our partners in the US to carry this out."

He added that: "Once our clinical trials are completed, we will make this therapy widely available to treat patients and improve their quality of life."

This was echoed by Rebecca Einhorn from MedImmune who told us "AbPro will have day-to-day leadership in overseeing the new company, AbMed, and AbPro’s core technology platform, DiversImmune, will be used to further refine the antibody."

She declined to disclose the therapeutic areas that AbMed will focus on.