AUSTRALIAN FIRMS TO COLLABORATE ON ANTIBODY DRUG

EvoGenix and Vegenics, both based in Australia, have entered into a technology collaboration agreement in which EvoGenix will apply its proprietary technologies for antibody optimization to assist Vegenics in developing an antibody therapeutic targeting vascular endothelial growth factor D (VEGF-D).

Vegenics has developed a strong portfolio covering drugs directed against VEGF-D, which may prove to be an important target for treating certain forms of cancer, according to the company. Vegenics will have the right to commercialize the product developed through the collaboration.

Under the terms of the agreement, EvoGenix will receive research payments to carry out work on the Vegenics product. EvoGenix will earn milestone payments as the product advances through the subsequent stages of preclinical and clinical testing and regulatory approval and royalties on product sales subject to marketing approval.

"EvoGenix is pleased to be assisting with the development of this new cancer product for Vegenics, and to see the growing strength of Australian companies in the antibody sector," Rob Crombie, vice president for business development at EvoGenix, said.

EvoGenix is also collaborating with Australian firm CSL on developing a product using its proprietary antibody technology.