06 August 2019 | News
Investment Agreement for up to $3,100,000
UK based Biotechnology company Antikor Biopharma Ltd is pleased to announce that it has entered into an Investment Agreement for up to US$3,100,000 with Essex Bio-Investment, a wholly-owned subsidiary of Essex Bio-Technology Ltd (”EssexBio”), which will enable Antikor to consolidate and expand its position as a leading innovator in smaller-format conjugate therapies for solid tumours.
Essex Bio-Technology is a bio-pharmaceutical company that develops, manufactures and commercialises genetically engineered therapeutic rb-bFGF (FGF-2), having five commercialised biologics marketed in China since 1998.The products of the Company and its 3rd party products are prescribed for the treatment of wound healing and diseases in Ophthalmology & Dermatology, which are marketed and sold through more than 6,300 hospitals and managed directly by its 42 regional sales offices in China.
Mahendra Deonarain, Antikor’s CEO and visiting Reader in Antibody Technology at Imperial College London where Antikor has its roots, commented: “We believe wehave a platform that is tailored to make an impact in an area of major unmet medical need, and with EssexBio’s considerable commercial and clinical expertise, we now have the opportunity for translating the promised advantages of Antikor’s proprietary products into clinical benefit.”
“We are excited to have established a strong alliance with Antikor”, said Malcolm Ngiam, President of Essex Bio-Investment, “Fragment-Drug Conjugate is an innovative approach with the potential to overcome many of the challenges faced by current treatment methods. The research and commercial partnership with Antikor is an important step towards developing first-in-class treatment for cancer.”
Antikor’s novel technology platform will enrich Essex’s research pipeline and is aligned with EssexBio’s long-term research and commercial strategy.