Avacta Group, the developer of Affimer biotherapeutics and reagents, has announced that ModernaTX, has exercised its option to enter into an exclusive licensing agreement with respect to certain Affimer technology. The two companies will work against a potential therapeutic target that has been part of an ongoing research collaboration between the two companies.
In 2015, Avacta and Moderna entered into a collaboration, licence and option agreement under which Moderna was granted exclusive access to Avacta’s Affimer technology for certain collaboration targets and the option to enter into exclusive licence agreements.
These licence agreements were on pre-agreed terms to further research, develop and commercialise Affimers selected by Moderna.
Under the terms of the agreement, Avacta may receive undisclosed payments upon future clinical development milestones and royalties in connection with future product sales.
Commenting on the announcement, Dr Alastair Smith, Avacta Group CEO, said: “This is further strong validation of the potential of the Affimer drug platform to generate differentiated therapeutic molecules for development. We will continue to support Moderna and their development objectives and I look forward to updating the market as and when key development milestones are met.”
The proprietary Affimer technology is an engineered alternative to antibodies that has wide application in life sciences for diagnostics, therapeutics and general research and development.