PolyTherics Initiates Research and Option Agreement with Top Ten Pharmaceutical Company
PolyTherics Limited, a biopharmaceuticals company dedicated to precision engineering of proteins and peptides to improve their pharmacokinetic properties, today announced a research and option agreement with one of the world’s top ten pharmaceutical companies. PolyTherics will apply its proprietary drug modification technologies to a target protein of commercial interest to its collaborator. The study will utilise PolyTherics’ considerable expertise in the adaptation of antibody fragments for therapeutic use.
PolyTherics receives an upfront licence fee as well as payment on achievement of pre-defined programme milestones. The collaborator receives an option to negotiate for a license to the collaboration intellectual property to develop and commercialise novel products. Further details of the agreement terms were not disclosed.
PolyTherics has substantial expertise in the targeted modification of biologic compounds with therapeutic potential. Through its platform of site specific poly(ethylene glycol) (PEG)-based technologies, the Company systematically optimises the performance of biologics for administration as parenteral drugs. PolyTherics will be attending the BIO International Convention in Chicago between 3 and 6 May 2010 and is available to meet companies interested in its technologies.
Dr Keith Powell, Chief Executive Officer of PolyTherics, said: “With large pharma companies clearly committed to developing biologics as drugs, we are seeing considerable interest in technologies that serve the need for optimized pharmacokinetic half-life. This new feasibility study builds on PolyTherics’ proven achievements applying its PEGylation technologies to antibody fragments to enhance therapeutic performance”.