Everest Medicines and AbCellera on Thursday entered a multi-year collaboration to discover therapeutic antibodies for up to 10 targets selected by Everest. This is the third deal Everest disclosed in two weeks.
Under the agreement with AbCellera, Everest will have the rights to develop and commercialize antibodies coming out from this collaboration. AbCellera will receive research payments and is eligible to receive from Everest downstream clinical and commercial milestone payments and royalties on net sales of products. Further financial terms were not disclosed.
For Everest, the partnership will help expand its portfolio across multiple indications. Initial programs will focus on targets in oncology.
It will also have access to AbCellera's technology stack, including sourcing fully humanized antibodies from its Trianni Mouse technology, sourcing single domain antibodies from camelids, and combining any two antibodies to create native bispecifics using the OrthoMab protein engineering platform.
The transgenic animal technology, Trianni Mouse, is designed to generate fully human monoclonal antibodies for its drug discovery programs. Meanwhile, the OrthoMab platform, which AbCellera licensed from Dualogics in August 2020, can generate bispecific antibodies from any two existing antibody sequences.
This collaboration will allow us to gain access to AbCellera's AI-powered antibody discovery platform, which will accelerate and increase the efficiency of our internal discovery efforts, said Jennifer Yang, Everest's chief scientific officer.
Everest is known for bringing in late-stage assets to push them to market faster. The deal signals a change in the company's strategy to invest more in drug discovery and early-stage assets.
And the company has been busy with dealmaking.
Just a week ago, Everest inked deals with Providence Therapeutics that are worth over $500 million to gain access to a mRNA platform and a mRNA COVID-19 vaccine with full technology transfer.
A few days later, it licensed a BTK inhibitor in renal diseases from Sinovent and SinoMab for global rights in a $561 million deal.