Immagene, Aditum Bio Partner to Create New Biotech Company

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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