Traverse Biotech announces a world-wide license agreement with Genmab to develop and commercialize a novel cancer bispecific antibody
12 Sep 2023
License out/inImmunotherapy
This new licensing collaboration strives to accelerate the development of an immuno-oncology product for the treatment of selected cancers.
NEW YORK, Sept. 12, 2023 /PRNewswire/ -- Traverse Biotech, a US-based biotechnology company focused on the development of immunotherapies from international biopharma companies, announces that it has signed a license agreement with Genmab, Inc. under which Traverse will develop and commercialize a bispecific antibody for cancer immunotherapy. This next-generation antibody was created using Genmab's proprietary DuoBody® bispecific antibody technology platform as a targeted treatment candidate for cancers expressing an undisclosed tumor-associated antigen. Targeting this tumor-associated antigen with the bispecific antibody will direct T cell-mediated cytotoxicity against both solid and liquid tumors.
Under the terms of the license agreement, Traverse will use its operational and development expertise to advance and commercialize the bispecific antibody program. This license agreement is expected to bring a much-needed novel oncology product to patients. The aim of the license agreement is to leverage DuoBody®, a proven technology and the basis of four FDA-approved bispecific medicines and develop and commercialize a novel immuno-oncology product.
"We are highly motivated to work with a product candidate derived from Genmab's state-of-the-art bispecific technology," said Brandy Houser, Ph.D., CEO of Traverse Biotech. "By focusing our energy on developing assets from clinically validated technologies, we can accelerate development and ultimately improve the treatment landscape for patients battling cancer," said Bill Polvino, M.D., Executive Chairman.
About Traverse Biotech
Traverse Biotech, Inc. is a privately held US biotechnology company focused on late-stage preclinical and early clinical development of de-risked immunotherapy products from diverse platforms. For each product within its pipeline, Traverse licenses worldwide rights for development and commercialization from selected international biopharma companies that have promising product candidates derived from validated manufacturing and clinical platforms. Through this partnership model, Traverse Biotech can accelerate therapeutic development of each asset through an initial clinical proof-of-concept study. Traverse Biotech's flexible and lean operating structure enables faster development and cost reduction around all aspects of product development to reach patients sooner.
Established in 2022, Traverse is headquartered in New York, NY. For more information, please visit traversebiotech.com.
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