AB Biosciences and Shire have announced their agreement granting Shire an exclusive worldwide license to develop and commercialise AB Biosciences’ pan receptor interacting molecule (PRIM) programme, which uses AB Biosciences’ proprietary oligomeric Fc technology platform.
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.
Under the terms of the agreement, AB Biosciences will grant Shire an exclusive, worldwide license to its intellectual property relating to its PRIM programme.
AB Biosciences will receive an upfront license fee payment from Shire and is eligible to receive contingent research, development, and commercialisation milestone payments as well as royalty payments. No further terms of the agreement were disclosed.
Yen-Ming Hsu, President and Chief Executive Officer of AB Biosciences, said: “As a global biotech leader in the development and commercialisation of biologic therapeutics, Shire is the ideal development and commercialisation partner for our innovative PRIM program, particularly given their proven developmental expertise and continuing success in their IVIg commercial franchise.”
Andreas Busch, Head of Research and Development and Chief Scientific Officer at Shire, said: “The novel design of this investigational antibody-derived recombinant protein therapeutic and promising biological activity demonstrated in preclinical models makes the PRIM program an exciting opportunity for Shire to further expand its leadership and commitment to treating patients with autoimmune disorders.”