BioInvent has sold back all its rights to drug development candidate ADC-1013 to former partner Alligator Bioscience for an undisclosed sum.
BioInvent has manufactured ADC-1013 (a FIND optimized n-CoDeR antibody) and the company has announced that it 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.
Furthermore, BioInvent states that it 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, in a press release.