Affibody will receive up-front and milestone payments in addition to royalties
Swedish biotech company Affibody has signed a research licensing agreement with Biotest of Germany concerning Affibody's proprietary Albumod platform, which enhances the efficacy of biopharmaceuticals by extending their circulatory half-life, and will be used with compounds from Biotest’s portfolio of proprietary molecules.
The Albumod technology allows for less frequent dosing and lower peak concentrations in blood with a decreased risk for adverse events. In addition to these patient safety benefits, the overall treatment costs are reduced.
Affibody will receive up-front and milestone payments from Biotest as well as royalties on sales for licensing of the Albumod platform. No financial details have been disclosed.
Affibody’s CEO, David Bejker, said: 'Biotest with its vast experience in development of protein-based drugs is an ideal partner for our Albumod platform and we are very pleased to announce this agreement. This announcement further illustrates that our licence-driven business model can continue to deliver new collaborations.'
