NEW YORK, April 8, 2014 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (Nasdaq:TINY), an investor in transformative companies enabled by disruptive science, notes the announcement by portfolio company, Mersana Therapeutics, Inc., that it has entered into a collaboration agreement with Millennium Pharmaceuticals, Inc., a wholly-owned subsidiary of Takeda Pharmaceutical Company Limited (TSE:4502) to develop next-generation Fleximer® antibody-drug conjugates (ADCs). Mersana's proprietary conjugation technology is comprised of the company's biodegradable Fleximer polymer and a broad array of customizable linker chemistries matched to Mersana's diverse, cytotoxic payloads.
Under the agreement, Takeda will provide an upfront payment to Mersana for the right to utilize Fleximer technology to develop novel ADC candidates. Mersana is responsible for conducting research and creating ADCs that are conjugates of Takeda's antibodies and Mersana's diverse payload platforms, which combine a cytotoxic payload with the Fleximer polymer and custom linkers. In addition to providing antibodies, Takeda is responsible for product development, manufacturing and commercialization of any Fleximer-ADC products. Mersana, in addition to an upfront payment, is eligible to receive milestones and royalties on worldwide net sales of any resulting ADC products.
"This agreement is another point of validation that our portfolio companies are solving important problems," said Douglas W. Jamison, CEO of Harris & Harris Group. "Partnerships are important to us and to our portfolio companies, and this is another example of a very synergistic partnership for bringing new therapeutic opportunities to market."
Mersana's press release may be viewed at http://www.mersana.com/news-events/news-events-press-release-2014-04-07.php.
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