Swedish antibody specialist BioInvent sealed a collaboration with Genentech Inc. to co-develop BI-204, a treatment for cardiovascular diseases. The deal will see the US company paying $15 million upfront, plus a potential $175 in milestones for a product currently in preclinical development.
The two partners will be jointly responsible for further work on the antibody, which targets an oxidised version of LDL cholesterol (low density lipoprotein, or so called ‘bad cholesterol’). Lund-based BioInvent licensed rights to the target from Lund University in 2002.
“We believe this deal could accelerate BioInvent’s product development and that Genentech’s proven track record in antibody development and commercialisation makes it an ideal collaborator,” said BioInvent’s CEO Svein Mathisen.
Preclinical studies suggest BI-204 could be effective in preventing heart attacks and strokes by halting the formation of plaques in blood vessels.
BI-204 blocks a mediator of vascular inflammation that is implicated in the formation of unstable plaque in the vessel wall. Preclinical animal models have demonstrated this blockade leads to decreased vascular inflammation and a subsequent reduction in established atherosclerotic plaque.
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