Victoria, British Columbia-based ImmunoPrecise Antibodies Ltd. said its U.S. unit Talem Therapeutics is collaborating with AgonOx Inc. to identify and develop immuno-oncology therapies.
The parties entered into a letter of intent to form a joint venture for the development of antibody therapeutics to target T cell mediated antitumor activity.
Under the partnership, the companies will advance two of AgonOx's top 10 product candidates. If the drugs are commercialized, the deal may result in about US$720 million to AgonOx comprised of licensing fees, as well as development and commercial milestones in addition to royalties on global sales.
T cells are a type of lymphocyte, or white blood cell, which helps the body's immune system eliminate cancer cells.
Cambridge, Mass.-based Talem will utilize ImmunoPrecise's Abthena bispecific antibodies platform and its complementary Artemis Intelligence Metadata capabilities for the rapid turnaround on additional outputs in the stability and manufacturability of antibodies.
AgonOx is a spinoff company of Portland, Ore.-based Providence Cancer Institute which is developing immune system modulators for cancer treatment.
