Benzinga | Oct 20, 2020 05:42AM EDT

ProteoNic Announced Licensing of Technology for Production of Biologics to Immunomedics; Financial Details Not Disclosed

ProteoNic BV, a leading provider of technology and services in the field of production of biologics, today announced it has licensed its premium 2G UNic technology for boosting therapeutic protein production to Immunomedics, Inc. (NASDAQ:IMMU)

Under the agreement, Immunomedics gains commercial rights for application of ProteoNic's technology platform to the development of specified proprietary products from mammalian cells. Financial details of the agreement were not disclosed.

ProteoNic's protein expression technology improves production levels across a range of host cells, selection systems and protein targets. It increases transcription and translation rates via a combination of novel genetic elements, which together exert a powerful positive effect on recombinant protein production levels without impacting product quality or cell line stability attributes. 2G UNic can be readily combined with other protein expression-enhancing technologies to improve their performance.

Mark Posno, Vice President of Business Development of ProteoNic commented: "We are pleased that we can contribute to improving the efficiency of production of Immunomedics' antibody-based products. ProteoNic's clients consistently achieve strongly increased cell line productivity and reduced manufacturing cost. We will continue our work towards reaching the maximum potential of the production of biologicals for current and future clients."