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AbCellera Announces Collaboration with Incyte to Accelerate the Discovery and Development of Therapeutic Antibodies in Oncology
VANCOUVER, British Columbia--(BUSINESS WIRE)-- AbCellera (Nasdaq:ABCL) announced today that it has entered into a strategic collaboration with Incyte
About this update from Abcellera Biologics Inc.
[{"type":"text","content":" VANCOUVER, British Columbia--(BUSINESS WIRE)--\nAbCellera (Nasdaq:ABCL) announced today that it has entered into a strategic collaboration with Incyte (Nasdaq:INCY) to discover and develop therapeutic antibodies in oncology.\n\n\n“We are excited to partner with Incyte, which has a track record of developing first-in-class medicines and bringing them to patients in need,” said Murray McCutcheon, Ph.D., Senior Vice President of Partnering at AbCellera. “We look forward to working as an extension of Incyte’s team to address complex antibody discovery challenges and accelerate the development of Incyte’s preclinical pipeline of oncology medicines.”\n\n\n“This collaboration supports our continued commitment to developing new therapeutics that may improve and expand treatment options for patients with cancer,” said Patrick Mayes, Ph.D., Vice President, BioTherapeutics at Incyte. “We are excited to partner with AbCellera to initiate this research and look forward to collaborating with them to identify new antibody therapeutics that may address unmet needs in oncology.”\n\n\nUnder the financial terms of the agreement, Incyte has the right to develop and commercialize therapeutic antibodies resulting from the collaboration. AbCellera will receive research payments and is eligible to receive downstream clinical and regulatory milestone payments and royalties on net sales of products.\n\n\nAbout AbCellera Biologics Inc.\n\n\nAbCellera is breaking the barriers of conventional antibody drug discovery to bring better medicines to patients, sooner. AbCellera’s engine integrates expert teams, technology, and facilities with the data science and automation needed to propel antibody-based medicines from target to clinic in nearly every therapeutic area with precision and speed. AbCellera provides innovative biotechs and leading pharmaceutical companies with a competitive advantage that empowers them to move quickly, reduce cost, and tackle the toughest problems in drug development. For more information, please visit www.abcellera.com.\n\n\nAbCellera Forward-Looking Statements\n\n\nThis press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on management’s current beliefs and assumptions an...