Abeome Corporation is a privately-held biotechnology company leveraging its proprietary technology to optimize the discovery of therapeutic and diagnostic monoclonal antibodies (mAbs).
Within the past two years, Abeome has rapidly advanced the use of the technology to discover a large number of potential therapeutic or diagnostic mAbs for ovarian cancer and is currently collaborating with the renowned Fox Chase Cancer Center to screen these mAbs on tissue micro arrays from human patients..
Over the past decade, mAbs have emerged as what is currently the hottest space in biotechnology therapeutic development. Based on mAbs’ ability to bind selectively with important cell surface targets, life science companies are working to commercialize a wide range of mAb-based therapeutic agents, diagnostic assays and research tools. At least five mAb-based drugs now generate sales in excess of $3 billion annually each, and there are hundreds of mAb-based products currently moving through development pipelines; commonly in the areas of cancer or auto-immune disease therapeutics.
Despite the extraordinary resources and opportunities associated with mAbs, research and identification of novel/high-potential candidates remains a cumbersome, time-consuming and inefficient process. Using traditional laboratory techniques, screening for mAbs that bind with a specific antigen can take up to six months per cycle and, may yield only a small number (if any) of potential therapeutic or diagnostic candidates. The traditional process has been described as looking for a needle in a haystack.
Abeome has developed proprietary, patented mAb technology that dramatically reduces cycle time and boosts yields of positives for each antigen target. With the ability to discover a large number of antibodies in a short period of time, Abeome has shortened the life cycle for mAb discovery. By doing so, the Company can be more discriminating in selecting those mAbs with the most optimal characteristics to move forward in its therapeutic and diagnostic development projects.
As a direct consequence of this efficiency improvement, and demonstrating the true power of the technology, Abeome has implemented a project to develop an ovarian cancer (OC) therapeutic and diagnostic using whole OC cells as the immunogen. Why whole cells? Simply put, this provides us with an advantage over other technologies that start with purified antigens. By purifying the antigen target, the purification process degrades the structure and configuration of the surface marker, thus resulting in mAbs that have affinity to the restructured surface. Using whole cells, Abeome is introducing surface proteins (to the mouse) that are more closely aligned with the native tumor protein and, therefore, should result in mAbs with higher affinity and avidity. We see this as a strong competitive advantage when engaging in a therapeutic or diagnostic development project.
The technology is based on the innovative research of the Company’s scientific founder, Dr. Richard Meagher, Professor of Genetics at the University of Georgia. Abeome has raised over $5 million to refine its technology, and is currently selectively licensing the platform technology and developing an ovarian cancer therapeutic and diagnostic.
Headed up by biotech entrepreneur, Mike Wanner (formerly Executive Director of Merial and President of ProLinia and Oncose), Abeome is based in Athens, Georgia and has 6 full-time and 2 part-time employees. In addition, the Company employs scientific experts, including scientific founder and acting CSO, Dr. Richard Meagher. The Board of Directors is steeped in biotech and entrepreneurial experts including Herb Heyneker, PhD, an original scientist at Genentech and Kirby Alton, PhD, formerly head of development at Amgen (for details see BOD, SAB and Management Team on page 13). The Scientific Advisory Board consists of Jeff Boyd, PhD, CSO for Fox Chase Cancer Center, Christine Debouck, PhD, formerly Sr. VP of Genomics and Proteomics for GlaxoSmithKline, Linda Matsuuchi, PhD, Assoc. Director of the Life Science Institute at the University of British Columbia and Jack Sisley, MD, retired Surgical Oncologist.
Together, this strong team of individuals and collaborations with Fox Chase Cancer Center, Cato Research (CRO), and a number of commercial affiliations with large biotech companies, Abeome is poised to develop rapidly into a major player in the biotech arena. The Companies’ technology enables the ability to rapidly develop a pipeline of products well into the future. As an example of this rapid pipeline capability, the Company can repeat its recent success on its OC project and, in less than one year’s time, progress from immunizing mice with the antigen of interest to identifying a group of functional mAbs to that target. We see this capability as our long term value driver; and expect to move our OC therapeutic and diagnostic into clinical trials by 2011, with follow on products thereafter.
The Company already generates a small amount of revenue through some minor contract deals and prototype projects. The majority of early year revenues will come from licensing its technology on a selective basis to biopharma companies. Aside from up-front licensing fees and annual maintenance fees, the Company anticipates receiving milestone payments as selected products move through the development pipeline as well as additional compensation (lump sum milestone payments or royalties) once products are sold commercially. Ultimately, the Company will develop and launch its own proprietary therapeutics primarily in the areas of cancer and auto immune diseases.
