New partner and investor for NBE Therapeutics

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01.11.2016

Basel-based NBE Therapeutics and SOTIO have entered into a collaboration for the development of next-generation antibody-drug conjugates for improved cancer therapy. As part of the deal, PPF Group, the owner of SOTIO, has committed to invest CHF10m in the next financing round of NBE.

Under the agreement, NBE and SOTIO will collaborate on the discovery, non-clinical development and manufacturing of novel ADC products against undisclosed targets. The ADC products will be based on NBE’s proprietary antibody discovery and conjugation platforms, including NBE’s Transpo-mAb antibody platform, its site-specific SMAC conjugation technology and its novel ultra-potent toxin platform. SOTIO will have global responsibility for clinical development, registration and commercialization of the ADC products.

Upon exercise of the target options, NBE will be eligible for an option exercise fee, as well as milestone payments and royalties based on global net sales of the products. In addition, NBE will be reimbursed for its R&D expenses incurred in connection with the development of the product in collaboration with SOTIO.

As part of the deal, PPF Group, the owner of SOTIO, has committed to invest CHF10m in the next financing round of NBE.

Dr Ulf Grawunder, CEO of NBE Therapeutics commented: “We are excited about entering a strategic collaboration with SOTIO. This partnership validates our ADC platform and will allow us to further expand our ADC product pipeline. SOTIO’s proven clinical development expertise will help us to develop our ADC platform to the next level.”

Ladislav Bartonicek, CEO of SOTIO and shareholder of PPF commented: “NBE’s product platform addresses the key issues of today’s antibody-drug conjugates. With the very strong preclinical data generated by NBE that show superiority in terms of potency, safety and product homogeneity, as well as strong immunotherapeutic effects, this platform has the potential to provide new superior treatment options for cancer patients.”

PPF Group invests into multiple market segments such as banking and financial services, telecommunications, biotechnology, real estate, retail, insurance and agriculture. PPF’s reach spans from Europe to Russia, the USA and across Asia. PPF Group owns assets exceeding EUR 21.6 billion (as at 31 December 2015). SOTIO is an international biotechnology company leading the efforts of PPF Group to build a diverse biotechnology portfolio through its own research & development, collaborations, in-licensing, investments, mergers and acquisitions. The company is developing new medical therapies, focusing on the treatment of cancer and autoimmune diseases.

(Press release)

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