Business
XBiotech Achieves Milestone for Production of its New Potential Blockbuster Anti-IL-1⍺ Therapy
After Sale of its Previous Anti-IL-1a True Human Antibody, Company Now Has Production Cell to Manufacture New Molecule for Launch of Clinical Studies in 2021
About this update from Xbiotech Inc.
[{"type":"text","content":"After Sale of its Previous Anti-IL-1a True Human Antibody, Company Now Has Production Cell to Manufacture New Molecule for Launch of Clinical Studies in 2021\nAUSTIN, Texas, July 22, 2020 (GLOBE NEWSWIRE) -- XBiotech Inc. (NASDAQ: XBIT) announced today it has achieved a crucial milestone in the development of its next generation inflammation-fighting True Human antibodies. The Company is developing a new antibody to replace a previous generation True Human anti-IL-1⍺ antibody that was sold in 2019 for $750 million in cash and up to $600 million in milestone payments. Under terms of the sale, XBiotech was permitted to pursue discovery of new True Human anti-IL-1⍺ antibodies for use in all areas of medicine with the exception of dermatology.\n XBiotech’s scientists first discovered and characterized a panel of new anti-IL-1⍺ antibodies from a human donor earlier this year. The team has worked diligently through the COVID-19 crisis to clone the genes for the antibodies into cells that can be used for production of these novel therapeutics. The antibody products will be used in human clinical trials and ultimately commercialized. The Research and Development team has now successfully engineered a cell-based production system for the first of its new anti-IL-1⍺ antibodies to enable the Company’s drug manufacturing process at its state-of-the-art facility in Austin, Texas. Sushma Shivaswamy, the Company’s Chief Scientific Officer, said, “Our scientists and all members of the team have worked diligently to overcome the COVID-19 challenges, and to keep us on schedule to re-enter the clinic in 2021. We believe that the new molecule has the potential to be another blockbuster therapeutic with proven industry appeal. Having a production platform is a significant step toward realizing this goal.” The new antibody targets damaging inflammation by neutralizing interleukin-1alpha (IL-1α), an inflammatory substance produced by the body, which is involved in diseases such as cancer, arthritis and cardiovascular indications. The Company recently announced promising new results that were published in the American Heart Association’s journal, Circulation, where antibody therapy targeting IL-1⍺ was found to significantly reduce stroke related brain injury and neurological deficit in animals. This discovery points to a potential blockbuster therapy f...