NEW YORK, Feb. 13 - Hyseq on Wednesday said that it will license technology from Genetastix to generate fully human monoclonal antibodies against one of its antigens.
Terms of their agreement call for Hyseq to give Genetastix an upfront payment as well as research and development payments to use its HuMYTech technology.
If the research program is successful, Genetastix, based in Santa Clara, Calif., could receive additional R&D payments, license fees, milestone payments, and royalties on any sales of the fully human antibodies it develops. Hyseq will be given the option to enter into an exclusive commercial-use agreement for the antibodies.
Financial details of the deal were not disclosed.
"This collaboration demonstrates our ongoing efforts in offering our partners a novel approach to generating fully human antibody therapeutics," said Li Zhu, president and CEO of Genetastix.
Added Ted W. Love, president and CEO of Sunnyvale, Calif.-based Hyseq: The partnership "will allow us to drive forward the development of antibody products based on one of our proprietary antigens."