Benzinga | Sep 23, 2021 09:59AM EDT

AbCellera, Everest Medicines Team Up To Develop 10 Therapeutic Antibodies

* AbCellera Biologics Inc (NASDAQ:ABCL) and Everest Medicines Limited have entered into a multi-year collaboration and license agreement to discover therapeutic antibodies for up to 10 targets selected by Everest.

* The partnership will help expand Everest's portfolio of novel medicines across multiple indications, with the initial programs focusing on targets in oncology.

* The collaboration will leverage AbCellera's technology stack, including sourcing fully humanized antibodies from the Trianni Mouse, sourcing single domain antibodies from camelids, and combining any two antibodies to create native bispecifics using the OrthoMab protein engineering platform.

* Under the terms of the agreement, Everest will have the rights to develop and commercialize antibodies.

* AbCellera will receive research payments and is eligible to receive from Everest downstream clinical and commercial milestone payments and royalties on net sales of products.

* Price Action: ABCL stock is up 3.07% at $21.95 during the market session on the last check Thursday.