New Almirall contract to boost its drug portfolio. The Spanish pharmaceutical company has communicated a license agreement with EpimAb Biotherapeutics for the development of biospecific antibodies up to three pairs of undisclosed cellular targets, according to the information sent by the company to the National Securities Market Commission (CNMV).
In this way, Almirall will obtain the license to use the Fabs-In-Tandem Immunoglobulin (FIT-Ig) platform patented by EpimAb. With it, you will be able to generate, develop, and market bispecific antibodies, granting Almirall exclusive global rights. However, EpimAb will retain all rights to the FIT-Ig technology.
The pharmaceutical company will assume the total cost and responsibility for the development and global commercialization of the antibodies. For its part, EpimAb will receive payments in the form of milestones for commercial milestones, which will depend on the launch and commercial success of the products. In addition, it will collect royalties based on the net sales of any product marketed.
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Almirall will obtain a license to use EpimAb’s patented Fabs-In-Tandem Immunoglobulin (FIT-Ig) platform
FIT-Ig, EpimAb’s technology platform, generates bispecific antibodies “using only the basic structural parts of monoclonal antibodies without adding any complex changes and is patented in major markets around the world.” The company added that “with four advanced biospecific molecules in the clinical phase using this technology, EpimAb has also demonstrated the potential of this new platform to rapidly advance drug candidates from idea to development.”
Almirall reduced its profit by 56% in the first half of 2023, to €12 million, compared to €27 million in the same period of 2022. The company attributed this result to the reduction in income from milestones within the agreement with AstraZeneca and Covis.
The Spanish pharmaceutical company invested €52.5 million in its research and development (R&D) area, reaching 11% in net sales, an increase of 17% compared to the previous year. The Catalan company highlighted the good results in its dermatology division, a business that represents half of the pharmaceutical company’s sales.
In Europe, the company had a turnover of €194.3 million. Specifically, 15% more compared to the first half of 2022, with €168.9 million. On the other hand, Almirall maintained its forecasts for this year, which point to a total EBITDA of between €165 million and €180 million.
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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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