Immagene, Aditum Bio Partner to Create New Biotech Company
Celexor Bio expected to focus on ell depletion of pathologic cells in autoimmune and inflammatory disorders.
Immagene Biopharmaceuticals and Aditum Bio have announced a joint venture to create Celexor Bio, a new biotech company focused on cell depletion of pathologic cells in autoimmune and inflammatory disorders. The new organization with obtain exclusive rights to develop, manufacture, and commercialize Inmagene's IMG-018, a pDC depleting antibody targeting immunoglobulin-like transcript 7 (ILT7). Later this month, the antibody is expected to be renamed CLXR-901.
Under terms of the deal, Immagene will be eligible for up to $287 million in development and sales milestone payments.
"We are pleased to partner with Aditum Bio, a highly innovative venture capital firm established by pharma industry leaders with deep drug development experience," said Jonathan Wang, PhD, CEO, Inmagene. "The formation of Celexor, based on IMG-018, has demonstrated Inmagene's strengths in discovering innovative and differentiated drug candidates."
Reference: Inmagene announces formation of Celexor Bio based on its anti-ILT7 mAb with enhanced pDC depletion function. PR Newswire. September 21, 2023. Accessed September 21, 2023. https://www.prnewswire.com/news-releases/inmagene-announces-formation-of-celexor-bio-based-on-its-anti-ilt7-mab-with-enhanced-pdc-depletion-function-301934416.html
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