Albumedix & Eleven Biotherapeutics Announce Albumin Variant Technology Agreement

Eleven Biotherapeutics, Inc. and Albumedix recently announced they have entered into an agreement that will see Albumedix acquire Eleven’s proprietary Supermin albumin variant assets.

Albumedix is a world leader in albumin engineering and protein manufacturing and has a growing albumin-based drug formulation and delivery business working with pharmaceutical and biotechnology companies worldwide. Using its AMP-Rx platform, Eleven has developed recombinant albumin variants to extend the systemic concentrations of drugs beyond what can be obtained from natural albumin. Eleven’s albumin technology will complement Albumedix’s proprietary drug delivery platform, Veltis, extending the array of technologies available for use by clients developing drugs with longer duration of systemic exposure.

“Albumedix has a credible track record in the innovation and supply of commercial recombinant albumin. The acquisition of Eleven’s exciting albumin platform, which will be incorporated within our proven Veltis technology portfolio, will strengthen our existing offering and mean we are able to provide customers with an even more comprehensive solution to improve the therapeutic impact of their products,” said Peter Rosholm, VP of Albumedix.

“We are very pleased that Albumedix, a global leader in protein manufacturing, will be seeking to commercialize our technology to the market, with Eleven still retaining the right to license the technology for our own research,” added Abbie Celniker, PhD, President and CEO of Eleven Biotherapeutics. “We look forward to efforts by Albumedix in helping other leading companies to apply this technology to enhance the product profile of drugs for the treatment of unmet medical needs.”

The deal between Albumedix and Eleven Biotherapeutics was completed on December 4, 2015. The terms of the agreement are not disclosed but under the agreement, Albumedix will pay Eleven an upfront fee as well as a share of commercialisation income.

Albumedix helps biopharmaceutical companies improve patient outcomes with a range of albumin-based products and technologies that facilitate the development of superior biotherapeutics. Albumedix develops albumin-based products and technologies for advanced drug and vaccine formulation, extended drug half-life, and improved drug delivery. Its products and technologies are used in clinical and marketed drugs and out-licensed to pharmaceutical and biotech companies worldwide. With over 25 years of experience in the biopharmaceutical industry, the company has the scientific, technical, and regulatory expertise needed to support companies in moving faster to market with superior biotherapeutics. It also uses this expertise to strengthen its own drug pipeline. Albumedix is a global company and fully owned subsidiary of Novozymes. www.albumedix.com

Eleven Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company with a proprietary protein engineering platform, called AMP-Rx, that it applies to the discovery and development of protein therapeutics to treat diseases of the eye. Eleven’s therapeutic approach is based on the role of cytokines in diseases of the eye, the company’s understanding of the structural biology of cytokines and the company’s ability to rationally design and engineer proteins to modulate the effects of cytokines. For more information, visit www.elevenbio.com.