SEOUL, KOREA, Feb. 28 – ViroMed Co., Ltd. (KOSDAQ: 084990), a leading biotechnology company, announced that the company has entered into a licensing agreement with Enlyton, Ltd., an Ohio-based company developing improved methods of molecular imaging.
The agreement grants Enlyton exclusive worldwide rights to develop 3E8, a humanized monoclonal antibody (mAb) designed to target the tumor-associated glycoprotein 72 (TAG-72) antigen, for use in cancer detection and targeted drug delivery. Under the terms of the agreement Enlyton will pay ViroMed an upfront licensing fee of $100,000, milestone payments totaling $4.6 million, and additional royalty payments based on revenues.
“We are pleased to have entered into an agreement with Enlyton, an up-and-coming company in the field of cancer detection,” said Paul Kim, Vice President of Business Development at ViroMed. “As the development time of antibodies for detection is comparatively faster than that of therapeutic antibodies, we expect to be able to enter this $8 billion dollar industry much sooner. This agreement is another important step in establishing ViroMed as a leading biotech company in Asia.” Enlyton CEO Jeff Bergen added, “This agreement provides Enlyton with access to an antibody that has been shown to offer great promise for use in cancer imaging and detection.”
About 3E8 3E8 is a humanized monoclonal antibody (mAb) designed to target the tumor associated glycoprotein 72 (TAG-72) antigen. TAG-72 is highly expressed (50-90%) in various epithelial derived cancers such as colonic adenocarcinomas, invasive ductal breast carcinomas, non-small cell lung carcinomas, epithelial ovarian carcinomas, and most pancreatic, gastric, and esophageal cancers. In preclinical testing, 3E8 showed a higher affinity to TAG-72 and had a lower immune response compared with previous TAG-72-specific mAb diagnostic imaging agents.
About ViroMed
ViroMed Co., Ltd. is a leading biotechnology company located in Seoul, Korea with a US presence in Atlanta and the San Francisco Bay Area. The company has two main areas of focus: DNA/protein-based biopharmaceuticals and phytotherapeutics (botanical drugs/nutraceuticals). ViroMed now has five main products in its pipeline targeting cardiovascular disease, cancer, and immune-related disorder, with clinical trials ongoing in the US, Korea, and China. To learn more about the company and its products, visit www.viromed21.com.
About Enlyton
CT and FDG-based PET/CT are the primary methods of imaging used in oncology today. However, these scans are not cancer-specific and often fail to provide accurate information. Enlyton recognizes that the imaging of cancer patients needs to be cancer-specific in order to enable more definitive interpretation. Enlyton’s technology improves PET-based imaging by providing images that more accurately reflect the extent of disease.
Enlyton has built upon Dr. Edward Martin, Jr.’s innovative thinking regarding antigen-directed targeting of cancer. The molecular targeting strategy envisioned by Enlyton is focused upon improving existing molecular imaging, enabling better detection of cancer during surgery, and providing a vehicle for targeted drug delivery.
With all pre-clinical work completed, Enlyton is currently raising capital to prepare its targeting agent for use in a Phase I imaging trial. To learn more about Enlyton, please visit their website at www.enlyton.net.
