Xconomy: Adimab Turns Cash Flow Positive With GSK, Biogen Tech Transfer Deals
Summary
Adimab Turns Cash Flow Positive With GSK, Biogen Tech Transfer Deals (Page 2 of 2) $50 million they’ve poured into the company by next year, and begin distributing profits to its shareholders through dividends, Gerngross says.Adimab’s goal is to have 10 sites using the technology by 2015 in addition to its current collaboration portfolio, which includes 21 partnerships spanning 35 potential drug programs.GSK, meanwhile, began searching two years ago for an antibody-making platform that it could use across all of its programs and any targets it wanted to go after, according to Ian Tomlinson, its head of worldwide business development and biopharmaceuticals R&D.“And it appears to us that this technology yields hits to the vast majority of targets you go after—and that’s very important if we’re going to use it as a broad platform to underpin our antibody discovery assets going forward.” No surprise, then, that GSK’s deal with Adimab is much broader than Biogen’s.It’s a full license giving GSK indefinite access to use the technology to find any type of antibody for any potential therapeutic area.
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