Adimab Inks Collaboration Deals with Biogen Idec, Novo Nordisk

8/29/11Follow @xconomy

Lebanon, NH-based Adimab, a provider of human antibody discovery technology, announced today that it has formed discovery collaborations with Weston, MA-based Biogen Idec (NASDAQ: BIIB) and Danish firm Novo Nordisk. Each pharmaceutical company will use the Adimab technology to identify human antibodies against two targets. The specific targets and the dollar terms of the deals were not disclosed.

Adimab has signed previous collaboration deals with Genentech, Eli Lilly, Human Genome Sciences, Merck, Roche, Novartis, and Pfizer. Under the new agreements, both Novo Nordisk and Biogen have the option to commercialize antibodies discovered from the Adimab partnership. Adimab will receive upfront payments and preclinical milestones, and could be eligible for clinical development milestones and sales royalties.

“Our technology is simply faster, dramatically reduces the risk of development failures, and generates higher quality leads even against challenging targets; in fact many of our partners come to us with targets that have failed using traditional phage display approaches,” said Adimab CEO and co-founder Tillman Gerngross in the announcement of the deals.

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