Australian biotechnology company AdAlta has signed a memorandum of understanding (MOU) with SYNthesis BioVentures Fund (SYNBV) to explore the creation of a jointly owned special purpose entity, AdCella, for advanced cancer treatments.
The collaboration will introduce cellular immunotherapies from Asia to Western markets, utilising AdAlta's i-body technology.
The partnership addresses the challenges of solid tumour treatments through enhanced cellular immunotherapies.
The MOU expands AdAlta's clinical stage pipeline in the field of cellular immunotherapy.
AdCella will identify partners with the capability to develop multi-functional cellular immunotherapies for solid cancers.
The MOU outlines a six-month collaboration period, extendable by a further six months, during which AdAlta and SYNBV will conduct due diligence and negotiate final agreements for asset selection.
Upon successful asset acquisition, AdAlta will hold a 75% ownership of AdCella, with SYNBV holding the remaining 25% before the next financing round.
SYNBV managing director Professor Andrew Wilks stated: “We believe that this collaboration will further our fund’s strategy of investing in promising early-stage science by leveraging the inherent advantages of the Australian biotech ecosystem.”
AdCella's goal is to license or acquire global commercialisation rights of the developed products outside Asia in return for carrying out clinical trials in Australia and integrating AdAlta’s i-body technology into its future product pipeline.
AdAlta CEO and managing director Tim Oldham stated: “As part of our stated strategy to expand our clinical-stage pipeline with assets that work with our i-body platform, we have identified a unique and exciting opportunity to bring highly innovative cellular immunotherapies to Australian patients.”
The partnership offers partner companies an opportunity to access Australia's clinical and manufacturing ecosystem, AdAlta's clinical trial capabilities and the i-body platform.
Last month, AdAlta announced results from its Phase I extension study of lead asset AD-214, which is being developed for fibrotic diseases including the debilitating and fatal disease, idiopathic pulmonary fibrosis.
