AB Biosciences and Shire have entered into an agreement granting Shire an exclusive worldwide license to develop and commercialize AB Biosciences' pan Receptor interacting molecule (PRIM) program, which uses AB Biosciences' proprietary oligomeric Fc technology platform.
AB Biosciences will receive an upfront license fee payment from Shire and is eligible to receive contingent research, development, and commercialization milestone payments as well as royalty payments. No further terms of the agreement were disclosed.
PRIM, a recombinant immunoglobulin product candidate, has shown encouraging preclinical data, including enhanced biological activity relative to currently approved intravenous immunoglobulin (IVIg) therapies, in preclinical models of autoimmune and inflammatory diseases.
"This agreement provides the opportunity to accelerate the development of the PRIM program and potentially benefit patients with autoimmune and inflammatory disorders that are currently treated with the traditional human IVIg preparations," said Yen-Ming Hsu, Ph.D., president and chief executive officer of AB Biosciences. "As a global biotech leader in the development and commercialization of Biologic Therapeutics , Shire is the ideal development and commercialization partner for our innovative PRIM program, particularly given their proven developmental expertise and continuing success in their IVIg commercial franchise."
