AbCellera (ABCL), Everest to co-develop new antibody therapies
AbCellera Biologics Inc. ABCL announced that it has entered into a collaboration and licensing agreement with the Chinese company Everest Medicines to discover therapeutic antibodies for a maximum of 10 (10) indications targeted by the latter.
Under the terms of the agreement, Everest will have the right to develop and commercialize the antibodies discovered as a result of the partnership. Conversely, AbCellera will receive research payouts from Everest. The company will also be eligible for milestone fees and royalties on net sales of therapies developed under this alliance.
Shares of AbCellera rose 1.2% on August 22 following the above news. However, the stock has plunged 47% so far this year compared to the industry0.6% decrease.
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The partnership aims to expand and accelerate Everest’s pipeline in multiple indications, initially focusing on oncology indications.
The agreement will give Everest access to AbCellera’s proprietary technology stack, including humanized Trianni Mouse technology, designed to maximize the immune response of human antibodies in rodents, and the OrthoMab platform, which uses protein engineering methods to create native bispecies. antibody of the combination of any two antibodies.
In addition to the agreement reached with Everest, the company’s technology stack has led to collaborations with the bigwigs for the discovery of antibodies in multiple indications. The merger of the company with Eli lilly LLY has led to the development of two therapeutic antibodies, namely bamlanivimab and bebtelovimab to treat and prevent COVID-19.
Earlier this week, Lilly announced that it has entered into a joint purchase agreement with the European Commission to provide up to 220,000 doses of its bamlanivimab antibody cocktail with etesevimab for the treatment of confirmed cases of COVID-19.
AbCellera also collaborates with Gilead Sciences GILD for the discovery of multi-target antibodies in multiple indications.
AbCellera Biologics Inc.
AbCellera Biologics Inc. | Quote from AbCellera Biologics Inc.
Ranking and stock of Zacks to take into account
AbCellera currently wears a Zacks Rank # 3 (Hold). A better ranked stock in the same sector is Regeneron Pharmaceuticals REGN, which currently sports a Zacks Rank # 1 (strong buy). You can see The full list of today’s Zacks # 1 Rank stocks here.
Regeneron’s earnings per share estimate for 2021 has fallen from $ 49.91 to $ 59.80 in the past 60 days. The same for 2022 went from $ 40.91 to $ 46.72 during the same period. The stock has climbed 34% over the year so far.
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