Abbott Laboratories Obtains Exclusive License to Yeast Display Technology Through Acquisition of Virtual Company, BioDisplay Tec
Abbott Laboratories today announced it has obtained the worldwide exclusive license to yeast display technology from the University of Illinois (UI) through acquisition of the virtual company, BioDisplay Technologies, Inc. Abbott is acquiring BioDisplay Technologies, Inc. for $7 million. The technology will become part of the antibody discovery and development technology platform of Abbott Bioresearch Center (ABC) in Worcester, Massachusetts.
Yeast display technology accelerates and enhances antibody discovery by simplifying the identification of antibodies that bind more tightly to their targets (high affinity antibodies). The ability to generate high affinity antibodies is important because for many targets of antibody therapy, high antibody affinity is closely linked to therapeutic potency. Yeast display, in combination with other human antibody generating technologies, can therefore accelerate the development of promising antibodies for clinical development. The technology was developed by former UI chemical engineering professor K. Dane Wittrup (now at the Massachusetts Institute of Technology), UI biochemistry professor David M. Kranz, and their graduate students.
Robert Kamen, Ph.D., divisional vice president Pharmaceutical Discovery, Abbott Laboratories, and president of ABC said, "We are very pleased to have acquired this cutting edge technology that will expand Abbott's unique technology platform in the development of fully human antibodies by bringing viable drug candidates to the pipeline faster, leading to more effective therapies for patients." BioDisplay will add to Abbott's established leadership in optimizing the value of antibody targets. Important anti-cytokine antibodies are already in the Abbott Immunology developmental pipeline, including D2E7 (adalimumab), an anti-TNF antibody in late-stage clinical studies for rheumatoid arthritis.
"We are delighted that Abbott Laboratories is our partner in this venture," said University of Illinois Chancellor Nancy Cantor. "Abbott has more than 1,000 Illinois alumni on its roster and the world-class expertise to realize the potential of yeast display technology. The university looks forward to further collaboration with Abbott."
Harry Arader, senior business advisor for BioDisplay said, "We believe that Abbott is well positioned to leverage the University of Illinois technology into its impressive research portfolio."
Abbott offers partners an unparalleled set of capabilities to optimize the value of antibody targets. These include ABC's unique technology platform comprising both proprietary and licensed-technologies, a 10-year track record pioneering the discovery and development of fully human antibody therapeutics, and a state-of-the-art facility for the manufacture of protein therapeutics The focus of ABC's advanced technology platform is on immunology, oncology, and transplant rejection, as well as supporting antibody projects across the Abbott discovery effort. In 2001, Abbott named ABC its Center of Excellence in Immunoscience Discovery.
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
