BioInvent International AB (publ) (OMXS:BINV) today announced that the company has sold back all its rights to drug development candidate ADC-1013 to former partner Alligator Bioscience for an undisclosed sum.
BioInvent has successfully manufactured ADC-1013 (a FIND® optimized n-CoDeR® antibody) and will fulfill the remaining CMC activities required to supply drug product to the First-in-Human study, expected to commence by the end of 2014.
BioInvent will continue to focus its efforts on its fully owned drug development candidates BI-505 in phase II for Multiple Myeloma and BI-1206, where a First-in-Human study in non-Hodgkin's Lymphoma is expected to start late 2014/early 2015.
"We are very pleased to give priority to our fully owned portfolio and to realise value from our stake in the ADC-1013 project. We are also pleased that we have been able to contribute to the joint project with Alligator Bioscience", says BioInvent's CEO Michael Oredsson
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