NEW YORK, June 5 - Xerion Pharmaceuticals has agreed to license Cambridge Antibody Technology's library of human phage antibodies for use in drug discovery and functional proteomics, the companies said Tuesday.
Xerion, based in Martinsried, Germany, will pay CAT an undisclosed license fee for the technology. No other financial details were available.
"CAT's antibody competence and Xerion's XCALIbur technologies will complement each other exceptionally well and thus create powerful target validation tools," Markus Ewert, CEO of Xerion, said in a statement.
In March, Xerion raised $11.1 million euros ($9.4 million) in a second round private placement, and hired Markus Ewert as CEO from Axxima Pharmaceuticals, another Martinsried-based pharmacueutical company.
CAT, in Cambridge, UK, has licensed its antibody library to a number of pharmaceutical and biotechnology companies, including Genentech, Pfizer, and Immunex.