Shanghai/Barcelona, October 12, 2023 - EpimAb Biotherapeutics, a clinical stage biopharmaceutical company specializing in the development of multispecific antibodies, and Almirall, a global biopharmaceutical company focused on medical dermatology, today announced a license agreement on the development of bispecific antibodies for up to three undisclosed target pairs.
Under the terms of this agreement, Almirall will gain a license to utilize EpimAb's proprietary Fabs-In-Tandem Immunoglobulin (FIT-Ig®) platform technology to generate, develop and commercialize bispecific antibodies, for which Almirall will have exclusive global rights. In exchange, EpimAb is eligible to receive milestone payments totaling up to $210 million contingent upon launch and commercial success of multiple products, plus royalties on net sales for any commercialized product. Further financial details were not disclosed.
"We are pleased to partner with Almirall to expand the application of our FIT-Ig® technology beyond the oncology space." said Dr. Chengbin Wu, CEO and founder of EpimAb. "While we have made significant progress in utilizing our platform technology to develop a differentiated portfolio of bispecific antibodies in oncology, the potential of our platform in other areas such as immunology remains untapped. We believe Almirall is the partner of choice for this endeavor and look forward to exploring the use of our novel bispecific platform to offer additional treatment options for patients with immune-related disorders."
Karl Ziegelbauer, Executive Vice President R&D and Chief Scientific Officer of Almirall, commented that "This agreement with EpimAb is an important step forward and a great example of our ambition to develop new biologics in the dermatology field to ultimately bring innovation to patients."
FIT-Ig®, EpimAb's proprietary technology platform, generates bispecific antibodies solely utilizing the basic structural parts of monoclonal antibodies without adding any complex changes, and is patented in all major markets of the world. With four bispecific molecules advanced into the clinic using this technology, EpimAb has also demonstrated the potential of this novel platform to rapidly advance drug candidates from idea to development.
About EpimAb Biotherapeutics
EpimAb Biotherapeutics is a clinical stage biopharmaceutical company specializing in the development of multispecific antibodies. Utilizing our broad range of in-house research and technology capabilities, including the proprietary FIT-Ig® (Fabs-In-Tandem Immunoglobulin) and MAT-Fab (Monovalent Asymmetric Tandem Fab) bispecific platforms, Epimab is generating and globally advancing a unique pipeline of transformative preclinical and clinical assets that aim to benefit cancer patients.
For further information, please visit: www.epimab.com
About Almirall
Almirall is a global biopharmaceutical company focused on medical dermatology. We collaborate with scientists and healthcare professionals to address patients' needs through science to improve their lives. Our Noble Purpose is at the core of our work: "Transform the patients' world by helping them realize their hopes and dreams for a healthy life". We invest in differentiated and ground-breaking medical dermatology products to bring our innovative solutions to patients' needs. The company, founded in 1944 and headquartered in Barcelona, is publicly traded on the Spanish Stock Exchange (ticker: ALM). Throughout its 79-year history, Almirall has retained a strong focus on the needs of patients. Almirall has a direct presence in 21 countries and strategic agreements in over 70, with about 1,800 employees. Total revenues in 2022 were 878.5 million euros. For more information visit www.almirall.com
