Another licence agreement that validates model
Abzena has announced another licensing deal for its proprietary site-specific ThioBridge antibody drug conjugate (ADC) linker technology. This time it is with a Taiwanese biopharmaceutical company (OBI Pharma). The agreement enables the development of OBI Pharma’s proprietary ADC, OBI-999. The deal also allows OBI to develop further ADCs as potential treatments for cancer and includes a master services and clinical supply agreement. This again provides important validation of Abzena’s ADC technology and hybrid business model. Our rNPV valuation increases slightly to £134m (vs £132m) following inclusion of one ADC being developed through this deal and we note there is potential for more.Abzena is providing a range of complementary services and technologies for the selection, development and manufacture of biopharmaceuticals.
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