Last updated on April 16, 2014 at 17:34 EDT

AvidBiologics Partners with the National Research Council of Canada for Three Novel Antibody-Drug Conjugates;

January 29, 2013

Transforming AvidBiologics’ pipeline into one of the most competitive in
the industry.

TORONTO, Jan. 29, 2013 /PRNewswire/ – AvidBiologics Inc., a life sciences
company developing antibody-drug conjugates (ADCs), announces the
conclusion of an agreement with the National Research Council Canada
(NRC) to develop three novel ADCs for the treatment of cancer.

The agreement is a partnership under which the three novel,
tumor-specific antibodies, which were generated as part of the NRC’s
integrated therapeutic antibody development (ITAD) initiative, are
being produced and tested for use as ADCs. The ITAD program, which is
led by Dr. Maureen O’Connor-McCourt, Senior Research Officer within the
Human Health Therapeutics research area, integrates NRC’s chain of
cutting edge genomic, proteomic and bioinformatics technology platforms
to discover and develop novel therapeutic targets and antibodies.

The three new ADC programs target undisclosed solid tumor antigens also
identified by the NRC through the ITAD program. These novel antigens
are highly expressed by multiple cancers, exhibit tumor-restricted
expression, and are rapidly internalized. These characteristics make
these antigens ideal for targeting with ADCs.

“AvidBiologics is Canada’s only company concentrating solely on
antibody-drug conjugates”, said David Allan, Chairman of AvidBiologics,
“and we are privileged to have concluded this agreement with the
National Research Council. This agreement positions AvidBiologics as an
important receptor company for translating this country’s exceptional
basic research into ADC products of benefit to human health. In its
brief period of existence, AvidBiologics has made significant advances
in its programs through its partnership with the NRC and access to
NRC’s advanced protein-engineering capabilities. We anticipate that
this agreement will be a showcase for the value of public-private

AvidBiologics is currently developing two unique ADCs targeting the
epidermal growth factor receptor (EGFR); one ADC is engineered to
target EGFR in a tumor- specific manner, while the second is a
bispecific ADC targeting EGFR and a different, undisclosed antigen.
Both ADC programs are designed to safely deliver highly cytotoxic
agents to EGFR-expressing tumors, a function not possible with
currently-marketed anti-EGFR antibodies, all of which have substantial
off-tumor toxicity.

“This partnership transforms AvidBiologics into a leading ADC company
with one of the most compelling ADC pipelines in the industry
worldwide”, said Ilia Tikhomirov, CEO of AvidBiologics. “This
diversified pipeline now consists of our two ADCs in current
development that are designed to efficiently target a validated tumor
antigen via innovative antibody engineering strategies, and the three
new ADCs against novel cancer antigens with tumor-restricted
expression. We look forward to this alliance with the NRC’s world-class
facility and scientific team to progress these ADC candidates from the
laboratory into the clinic.”

AvidBiologics is advised by Dr. Gregory P. Adams, Co-Leader,
Developmental Therapeutics at Fox Chase Cancer Center and a widely
published author on antibody engineering and antibody-based tumor
targeting, and by Dr. Walter A. Blättler, scientific founder of
ImmunoGen Inc.

About AvidBiologics

AvidBiologics is a privately-funded Canadian biotechnology development
company created to be Canada’s first to concentrate solely on
antibody-drug conjugates. It is a 2011 spin-out from YM BioSciences
Inc. where the seminal discoveries related to the EGFR-targeting ADCs
were made. AvidBiologics is based in the MaRS Discovery District in
Toronto, Canada’s innovation hub and incubator to emerging life
sciences companies.

SOURCE AvidBiologics Inc.

Source: PR Newswire