HERZLIYA and REHOVOT, Israel, May 23, 2012 (GLOBE NEWSWIRE) -- IMMUNE Pharmaceuticals, an emerging leader in the development of monoclonal antibodies, and Yeda, the technology transfer company of the Weizmann Institute of Science, announced today a broad collaboration to develop antibody therapeutics targeting HER3, one of the most promising novel targets in oncology with early clinical validation.
HER3 belongs to the epidermal growth factor family which includes HER2 target of Herceptin (Genentech/ Roche) and EGFR1 target of Erbitux (Eli Lilly and Merck Serono). HER3 is over expressed in certain patient populations with gastric, head and neck, ovarian and breast cancers.
IMMUNE will develop and evaluate multiple anti-HER3 antibody formats including humanized monoclonal antibodies, dual epitope targeting bi-specific antibodies and Antibody Nanoparticle Conjugates (NanomAbs).
According to Professor Yosef Yarden, who leads the research at the Weizmann Institute, "HER3 is an important target because it extensively collaborates with HER2, and also because HER3 drives several mechanisms of resistance to cancer therapeutics."
Dr. Daniel Teper, CEO of IMMUNE, adds, "Partnering with a prestigious institution like Weizmann is a unique opportunity. We are fully committed to leveraging their scientific excellence with our drug development expertise to pursue new therapeutic options for cancer patients."
About IMMUNE Pharmaceuticals
IMMUNE Pharmaceuticals is an Israel and U.S. based biopharmaceutical company focused on the development of next generation monoclonal antibodies addressing significant unmet medical needs in the treatment of cancer and inflammatory diseases. IMMUNE Pharmaceuticals has built a robust pipeline of clinical and pre-clinical candidates based on novel targets and best-in-class antibody technologies. For more information visit, http://immunepharmaceuticals.com/home
The IMMUNE Pharmaceuticals logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13000
About Yeda
Yeda Research and Development Company Ltd. is the commercial arm of the Weizmann Institute of Science (WIS). Yeda initiates and promotes the transfer to the global marketplace of research findings and innovative technologies developed by WIS scientists. Yeda holds an exclusive agreement with the Weizmann Institute to market and commercialize its intellectual property and generate income to support further research and education.
The Yeda Research and Development Company Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13001
