StockNews.AI
AZN
StockNews.AI
151 days

Harbour BioMed Enters into Global Strategic Collaboration with AstraZeneca to Discover and Develop Next-Generation Therapeutic Antibodies

1. AstraZeneca invests $105 million in Harbour BioMed for antibody development. 2. Collaboration focuses on next-generation multi-specific antibodies in immunology and oncology. 3. AstraZeneca may license multiple preclinical programs and benefit from milestone payments. 4. Harbour BioMed to establish an innovation center in Beijing with AstraZeneca. 5. Total collaboration rewards could reach $4.4 billion in future payments and royalties.

6m saved
Insight
Article

FAQ

Why Bullish?

AstraZeneca's investment and collaboration indicate strong growth potential for AZN's pipeline, reminiscent of their promising collaborations in the past with companies like Moderna and Alexion, which boosted their growth trajectories.

How important is it?

The partnership enhances AstraZeneca's pipeline significantly, potentially leading to high-value therapeutic developments, emphasizing the importance of ongoing strategic initiatives.

Why Long Term?

The strategic investment and collaboration may yield significant returns over time as new therapies develop and reach market readiness. Historical collaborations in biotech generally show long-term benefits as products progress through FDA approval.

Related Companies

MRNAALXNPFEJNJ
, /PRNewswire/ -- Harbour BioMed (HKEX: 02142), a global biopharmaceutical company committed to the discovery, development and commercialization of novel antibody therapeutics in immunology and oncology, today announced a global strategic collaboration with AstraZeneca to discover and develop next-generation multi-specific antibodies for immunology, oncology and beyond. The strategic collaboration includes an option to license multiple programs utilizing Harbour BioMed's proprietary Harbour Mice® fully human antibody technology platform in multiple therapeutic areas and a $105 million equity investment by AstraZeneca in Harbour BioMed. Under the terms of the agreements, AstraZeneca will obtain the option to license two preclinical immunology programs and will nominate further targets for Harbour BioMed to discover next generation multi-specific antibodies. AstraZeneca will have the option to license these programs for advancement into clinical development. The initial phase of the strategic collaboration will focus on ongoing research programs, with the potential for additional programs. In return, Harbour BioMed will receive an upfront payment, near-term milestone payments, and option exercise fees for additional programs, totaling $175 million, as well as up to $4.4 billion in additional development and commercial milestone payments, along with tiered royalties on future net sales. Additionally, the parties have the option to include additional programs into the collaboration over the next five years, with the option to extend the terms of the agreement for an additional five years upon mutual agreement. Furthermore, AstraZeneca will acquire 9.15% newly issued shares of Harbour BioMed. To support the collaboration programs under this agreement and other joint initiatives between the two parties, Harbour BioMed will establish an innovation center in Beijing, China to be co-located with AstraZeneca. Jingsong Wang, MD, PhD, Founder, Chairman, and CEO of Harbour BioMed, commented: "This strategic collaboration with AstraZeneca marks a significant step in advancing next-generation antibody therapeutics, reinforcing Harbour BioMed's position as a leader in multi-specific biologics innovation. By leveraging our cutting-edge discovery capabilities and AstraZeneca's expertise in drug development, we aim to accelerate the creation of transformative therapies for patients with high unmet medical needs." About Harbour BioMed Harbour BioMed (HKEX: 02142) is a global biopharmaceutical company committed to the discovery, development, and commercialization of novel antibody therapeutics focusing on immunology and oncology. The company is building its robust portfolio and differentiated pipeline through internal R&D capability, collaborations with co-discovery and co-development partners, and select acquisitions. The proprietary antibody technology platform Harbour Mice® generates fully human monoclonal antibodies in two heavy and two light chains (H2L2) format, as well as heavy chain only (HCAb) format. Building upon the HCAb antibodies, the HCAb-based immune cell engagers (HBICE®) bispecific antibody technology is capable of delivering tumor-killing effects unachievable by traditional combination therapies. Integrating Harbour Mice®, and HBICE® with a single B cell cloning platform, our antibody discovery engine is highly unique and efficient for the development of next-generation therapeutic antibodies. For further information, please refer to www.harbourbiomed.com. SOURCE Harbour BioMed WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News