CAMBRIDGE, Mass. and LUND, Sweden, June 28 /PRNewswire/ -- BioInvent International AB (SAX: BINV) and ImmunoGen, Inc. (Nasdaq: IMGN) announced today that they have signed a manufacturing supply agreement to produce one of ImmunoGen's monoclonal antibodies. Under this agreement, BioInvent, through its subsidiary BioInvent Production AB, will perform process qualification and cGMP (current Good Manufacturing Practice) manufacturing of the antibody. Monoclonal antibodies are a key component of ImmunoGen's tumor-activated prodrug (TAP) technology.
Dr. Cristina Glad, President of BioInvent Production AB, commented, "Being a dedicated partner to the biopharmaceutical industry in the development and manufacturing of therapeutic antibodies, the signing of this contract with ImmunoGen can be considered as a breakthrough for us in the US market. ImmunoGen is one of the leading players in the antibody arena and the collaboration between our two companies holds significant potential for the future."
"Securing antibody manufacturing capacity at BioInvent is an important step in the further development of our TAP products," stated John Lambert, Ph.D., Senior Vice President, Pharmaceutical Development at ImmunoGen, Inc. "We are pleased to begin a relationship with BioInvent, a global leader in contract antibody manufacturing, particularly during this period of intensifying competition for antibody manufacturing capacity."
BioInvent International AB, recently floated on the O-list of the Swedish Exchange, is a biotechnology company devoted to providing state-of-the-art antibody technology to the pharmaceutical and biotech industry. A cornerstone is its proprietary human antibody gene library, n-CoDeR™. This is a collection of more than ten billion functional antibody genes that are ready to be screened against desired antigens. n-CoDeR™ has been used successfully for the isolation of antibody fragments with specificity for a number of antigens, including peptides, proteins and carbohydrates. BioInvent offers biotechnology and pharmaceutical companies access to n-CoDeR™ through collaborative research and development programs.
BioInvent's capabilities in large-scale contract manufacturing of protein- based drugs through a state-of-the-art cGMP-certified facility further underpin its competitiveness in the antibody arena. BioInvent has been supplying monoclonal antibodies, fusion proteins and other recombinant proteins to the world's leading pharmaceutical and biotechnology companies for therapeutic use since 1988. These antibodies and proteins are used in all phases of clinical trials in both the US and across Europe. The cGMP-certified manufacturing facility is designed to meet FDA and EU regulations from early clinical development to commercial scale-up, with multi-kilogram annual capacity.
BioInvent is headquartered in Lund, Sweden, employing a total of 100 people. For additional information, see http://www.bioinvent.com.
ImmunoGen, Inc. develops innovative biopharmaceuticals, primarily for cancer treatment. The Company has created potent tumor-activated prodrugs (TAPs), consisting of small molecular, cytotoxic drugs coupled to monoclonal antibodies, for delivery to and destruction of cancer cells. Two of its TAP products are in Phase I/II human clinical studies. ImmunoGen has collaborative arrangements with GlaxoSmithKline, Genentech, Abgenix, Millennium, MorphoSys, Avalon, and Raven Biotechnologies. For additional information, visit http://www.immunogen.com.
This press release includes forward-looking statements based on management's current expectations. Factors that could cause future results to differ materially from such expectations include, but are not limited to; the success of the Company's research strategy; the applicability of the discoveries made therein; the difficulties inherent in the development of pharmaceuticals, including uncertainties as to the timing and results of preclinical studies; delayed achievements of milestones; reliance on collaborators; uncertainty as to whether the Company's potential products will succeed in entering human clinical trials and uncertainty as to the results of such trials; uncertainty as to whether adequate reimbursement for these products will exist from the government, private healthcare insurers and third-party payers; and the uncertainties as to the extent of future government regulation of the pharmaceutical business.
Contact:
BioInvent
Svein Mathisen, CEO
Cristina Glad, DSc, President,
BioInvent Production AB
Tel.: +46 (0) 46 286 85 50
http://www.bioinvent.com
Buchanan Communications
Nicola How
Tel: +44 (0) 20 7466 5000
ImmunoGen
Mitchel Sayare, Ph.D., Chairman and CEO
Tel: (617) 995-2500
Info@immunogen.com http://www.immunogen.com
SOURCE ImmunoGen, Inc.
Web Site: http://www.immunogen.com
