OBT announces second clinical development candidate from its $1bn oncology investment alliance

Oxford BioTherapeutics and Berlin-Chemie/Menarini Group Progress Antibody-Drug Conjugate as Second Clinical Development Candidate in $1 Billion Oncology Investment Alliance

OXFORD, UK and BERLIN, GERMANY – 2 October 2014 – Oxford BioTherapeutics (OBT) and Berlin Chemie/Menarini Group announce today that they have designated a novel antibody-drug conjugate (ADC) targeting Non-Hodgkin’s B-Cell Lymphoma and solid tumours, including some subsets of breast cancers, where the target is expressed, as the second clinical development candidate under the companies’ strategic oncology partnership. The ADC is currently undergoing formal regulatory enabling studies to support an application for the future clinical phase.

The ADC candidate is a novel antibody-based therapeutic against an undisclosed cancer target identified by OBT’s proprietary OGAP® discovery technology and has completed in vivo proof-of-concept in several solid and liquid tumour models and exploratory toxicology testing. The therapeutic incorporates proven ADC technology developed by ImmunoGen, and has successfully completed preclinical in vivo proof-of-concept and exploratory toxicology testing.

“We are delighted to initiate the development of the second oncology programme in our partnership with the Menarini Group,” said Dr Christian Rohlff, Oxford BioTherapeutics’ CEO. “This is a further strategic milestone for Oxford BioTherapeutics, as we continue to advance our cancer therapies to the clinic. We have combined proven ADC technologies with our world-class target discovery capabilities to build a pipeline of novel cancer therapeutics, and we look forward to progressing further programs into clinical development as part of our innovative alliance with Menarini.”

Commenting on the announcement, Andrew Slade, Chairman Menarini Biotech, the company of the Menarini Group appointed by Berlin-Chemie, said: “We are extremely pleased with the progress of our strategic oncology alliance with Oxford BioTherapeutics. Berlin Chemie/Menarini Group has a long-standing commitment to advancing the treatment of cancer, and we look forward to accelerating our shared pipeline of novel antibody-based therapies into clinical development.”

OBT and Berlin Chemie/Menarini Group established their strategic partnership in October 2012, covering the development and commercialization of five of OBT’s proprietary antibody-based cancer therapies. In October 2013, the companies designated a novel enhanced antibody targeting acute myeloid leukemia (AML) as the first clinical development candidate under the partnership. Under the collaboration, Menarini contributes clinical and manufacturing expertise, supported by an investment of up to $1 billion, and potential milestone payments of a similar magnitude plus royalties on future sales.