Xconomy reports that Adimab signed new discovery deals for antibody based drugs with Genentech, Eli Lilly and Human Genome Sciences. The company says it now has 15 such agreements in place - an increase of 10 deals since the end of last year. Adimab's technology has shown it can produce quality antibody candidates against specific disease targets in shorter timeframes than traditional methods. Antibody therapies already generate about $25 billion in annual sales and the rate of growth in that market has outpaced that of traditional small molecule drugs.
While not all 15 companies have chosen to come into the open, Adimab has previously announced deals with Merck, Novartis, Pfizer, and Roche. Adimab says it is starting to win repeat customers. Adimab has announced that Merck, has exercised its option to begin a new project with the firm concerning another drug target. The startup says it also achieved a technical milestone in its collaboration with Novartis. Novartis agreed to try out Adimab's technology even after it had already signed an antibody deal with MorphoSys. The companies struck that deal back in 2007 and it is potentially worth more than $1 billion.
“They are all looking for something better and more competitive, and right now we are the ones that are offering that,” says Adimab CEO Tillman Gerngross.
Posted by Bruce Lehr December 15th 2010.