Abzena wins biopharmaceutical contracts worth $5.9m

The AIM-traded company said the agreements, which concern projects expected to last approximately 15 months, state that the outfit will progress two PSMA-targeting monoclonal antibodies for the targeted treatment of metastatic prostate cancer.

Abenza has already contributed to Telix’s PSMA programme, granting a licence to the company on the intellectual property associated with a specific antibody in July 2017.

John Burt, chief executive of Abzena, said: "Taking forward another clinical product containing Abzena's intellectual property, including through to GMP manufacturing, demonstrates the scope of Abzena's integrated offering, with all our business areas providing scientific expertise and input as well as use of our proprietary technologies."

On completion of the current developments, which are being aided by Abenza’s CHO platform, the research cell banks for both antibodies will be transferred to the firm’s San Diego facility for further process development and scale-up of manufacturing.

As well as the manufacturing, Abenza will also undertake the bioconjugation, the forming of links between biomolecules, of one of the antibodies at a laboratory in Cambridge before the antibody is sent to the San Diego facility.

Christian Behrenbruch, chief executive of Telix Pharmaceuticals, said: "Taking these products through to the next stage of manufacturing development is a milestone for us and Abzena is a trusted partner with proven expertise and a strong track record. Our aim is to deliver the next generation of highly-targeted radiation oncology therapy, focusing on prostate cancer as an area of critical need."

Over 1.1m cases of prostate cancer were recorded in 2012, accounting for around 8% of all new cancer cases, while the global market for its treatment was expected to reach $50.3bn in 2017.

As of 0828 BST, Abenza’s shares were up 1.10% at 9.20p.