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Aveo and Biogen in Antibody Partnership

Aveo Pharmaceuticals and Biogen Idec (NASDAQ:BIIB), both based in Cambridge, MA, have struck a development deal related to Cambridge, MA-based Aveo’s program to discover antibody drugs that target a cellular receptor known as ErbB3, according to Aveo. The cellular receptor is found in abundance on several types of cancer cells and is believed to promote tumor growth. Aveo, which says the deal with Biogen involves the potential development of its ErbB3-targeting antibodies for treating cancer and other diseases, did not reveal financial details of the transaction.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.

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