Abzena PLC (LON:ABZA) has announced another licensing deal, this time involving its Composite Human Antibody technology. The deal is with Telix Pharmaceuticals, a biopharmaceutical company which specialises in the development and commercialisation of radiopharmaceuticals. The agreement is the third announced this year, which includes royalties and milestone payments, based on successful development, alongside a service contract.
\We have reviewed our service business valuation as we expect these deals to enable benefits of scale. As a result we have increased our valuation to £160m or 75p per share. We note the potential for further advances as more deals come through and if forecasts are met.
Licence agreement using Abzena technology
Abzena has announced a licensing deal with Telix Pharmaceuticals, a biopharmaceutical company specialising in the development and commercialisation of radiopharmaceuticals for diagnostic (imaging) and therapeutic use. The agreement grants Telix an exclusive worldwide, royalty bearing, sub-licensable licence to its prostate-specific membrane antigen (PSMA) antibodies (created using Abzena’s Composite Human Antibody technology) in radio-immunoconjugation. The agreement, according to the company, has the potential to deliver $65m in licence fees and milestone payments if successfully developed.
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