LONDON (Alliance News) - Abzena PLC said Monday it has signed a "significant" licensing deal for its ThioBridge technology with an undisclosed US biotechnology company, for which it could receive payments of up to USD150 million.
ThioBridge is an antibody drug conjugate linker technology, which links antibodies and other proteins to drugs.
Abzena will get an initial licence fee and target nomination fee, and has the potential to receive further licence fees and milestone payments of up to USD150 million if the partner develops a product for each of three designated targets using the technology, as well as royalties on the sale of products developed under the agreement.
"Signing a licence for ThioBridge with a large US biotech partner is a key milestone for us and a great endorsement of our proprietary technology and expertise," said Chief Executive Officer John Burt in a statement.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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