Adimab Acquires Rights to Genetastix Yeast Antibody Patents
Adimab, Inc., a pioneer in the integration of antibody discovery, maturation and biomanufacturing, announces the acquisition of the Genetastix (Palo Alto, CA) patent portfolio. Under the agreement the two companies have entered into an exclusive agreement by which Genetastix will assign all its method patents related to antibody discovery in yeast to Adimab, Inc. The financial terms of the agreement were not disclosed but are consistent with Adimab’s business model of reducing the excessive royalty stacking associated with current antibody discovery platforms.
“Genetastix was an early pioneer in yeast-based antibody discovery and we felt that their strong IP position in yeast based antibody discovery and library design would complement our scientific and patent strategy,” says Tillman Gerngross, Adimab co-founder, and CEO.
Lead scientist and founder of Genetastix, Li Zhu, explains, “seeing how fast the Gerngross/Wittrup team was moving their antibody discovery platform into practice, we felt that they will be the team that will make human antibody discovery in yeast a commercial reality. We were excited to join their effort.” Li Zhu will continue to serve as a consultant to Adimab.