20th Jan 2017 08:33
LONDON (Alliance News) - Abzena PLC on Friday said it signed a licensing agreement with an undisclosed San Diego-based pharmaceutical company for its ThioBridge antibody drug conjugate linker technology.
Shares in Abzena were up73% at 61.90 pence Friday following the announcement, the best performer on AIM. That was a new 52-week high for the stock.
The ThioBridge technology links antibodies and other proteins to drugs, and the agreement covers the use of this technology in up to ten antibody drug conjugates across a wide range of indications.
The life sciences group said it had entered into a master services agreement enabling multiple progress of work to be undertaken over an extended period, related to Abzena's chemistry services.
"Signing this extensive licence agreement for ThioBridge is further validation of our proprietary ADC technology and expertise. We look forward to continuing to work together with our partner for the development of novel ThioBridge ADCs," said Chief Executive Officer John Burt in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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