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On October 20, AbbVie (NYSE: ABBV) announced the $255 million acquisition of DJS Abodies Ltd ("DJS"), a privately held UK-based biotechnology company dedicated to the discovery and development of antibody drugs against difficult-to-treat disease-causing proteins, such as G protein-coupled receptors (GPCRs).
。 DJS's main project is DJS-002, a potential first-in-class lysophosphatidic acid (LPA) receptor 1 (LPAR1) antagonist antibody that is currently being studied in preclinical research
to treat idiopathic pulmonary fibrosis (IPF) and other fibrotic diseases.
IPF is an invasive, high-mortality disease caused by fibrotic scars in the lungs and remains a highly unmet area
of medical need.
Under the terms of the agreement, AbbVie will pay approximately $255 million in cash
to DJS shareholders upon completion of the acquisition of DJS.
Upon completion of certain development milestones related to the success of the DJS-002 project, DJS shareholders remain eligible for potential additional payments
.
AbbVie expects to retain all existing DJS staff and its Oxford facility
.
DJS is backed by founding investors Oxford Science Enterprises and Johnson & Johnson Innovation Ltd.
, as well as LifeArc, Sedgwick Yard and Amgen Ventures, with a £6 million funding round
announced in 2020.
Dr.
Jonathon Sedgwick, vice president and head of global discovery research at AbbVie, said, "We are delighted to bring the innovative science behind DJS-002 and the talented team of DJS to AbbVie
.
The acquisition will provide new capabilities to strengthen our current antibody research activities, provide opportunities to strengthen our immunology portfolio and provide a solid foothold for expanded research efforts at the Dynamic Biosciences Centre in Oxford
, UK.
"DJS's proprietary HEPTAD platform is a novel antibody discovery method with the ability
to target transmembrane protein targets.
A key benefit of the acquisition is AbbVie's access to the HEPTAD platform through DJS to complement its current strong capabilities
in biotherapeutics research.
DJS will leverage AbbVie's extensive drug discovery expertise to continue to develop antibody therapeutics and new biological insights for targets such as GPCRs, which were previously difficult to solve with
biological approaches.
Jonathon Sedgwick, vice president and head of global discovery research at AbbVie, said: "DJS's proprietary HEPTAD platform is a new antibody discovery method with specific capabilities
to target transmembrane protein targets.
David Llewellyn and Joe Illingworth, co-founders of DJS, said: "DJS is built on
the principles of scientific curiosity and the desire to discover innovative medicines with clinical significance.
We have had the privilege of growing companies in Oxford's world-class scientific and entrepreneurial community, from initial concept to successful biotechnology, including an extremely talented team
.
The whole team is very excited to embark on the next step in this journey with AbbVie as we work together to accelerate the translation of our lead projects into clinical trials and establish an exciting research centre
in the UK.
" ”
Original text: https://seekingalpha.
com/news/3893196-abbvie-to-acquire-djs-antibodies-for-255m-to-bolster-immunology-pipeline
com/news/3893196-abbvie-to-acquire-djs-antibodies-for-255m-to-bolster-immunology-pipeline
