In addition to product co-development, CCAB will provide program management for ImmunoBiochem. The goal of the agreement is to develop ImmunoBiochem’s lead candidate towards regulatory filings.
08.23.18
The Centre for the Commercialization of Antibodies and Biologics (CCAB) and ImmunoBiochem Corporation have announced an agreement that will see CCAB provide a new investment to help advance ImmunoBiochem’s novel breast cancer therapeutic candidate one step closer to the clinic.
The agreement marks a first for CCAB as part of its new business strategy, which aims to attract investment to create successful life sciences companies in Canada. The initiative merges CCAB’s business acumen with its research and technical expertise to support the co-development of new biological therapeutics and build viable companies around these products.
“Today’s announcement marks the beginning of a very exciting period of growth,” CCAB chief executive officer Robert Verhagen said. “The agreement with ImmunoBiochem is a natural extension of an already fruitful partnership and we are looking forward to helping the company get to the next crucial stage in the development of this promising anti-cancer therapy. As CCAB continues to expand its mission in this space, we plan on establishing similar partnerships with other emerging companies in the near future.”
ImmunoBiochem is developing novel potentiated biologics to treat triple-negative breast cancer (TNBC), an aggressive form of breast cancer for which there are currently no targeted biological treatment options. Earlier this quarter, ImmunoBiochem secured an additional private investment to support its pipeline and entered into a license agreement with the University of Toronto for novel therapeutic antibodies.
“ImmunoBiochem’s highest priority is to make new treatment options available for patients with this difficult-to-treat breast cancer. We have made significant progress and have validated our approach in vivo . CCAB has been tremendously supportive of our work and we are excited that this new agreement will help us advance our lead candidate even further,” said ImmunoBiochem’s chief executive officer Dr. Anton Neschadim.
CCAB’s announcement is the latest in support of ImmunoBiochem. Late last year, the company announced a new round of financing led by angel investors and an expansion of its operations to Johnson & Johnson Innovation, JLABS in Toronto. ImmunoBiochem is also supported by the Ontario Bioscience Innovation Organization (OBIO) and the Health Innovation Hub (H2i) at the University of Toronto.
