AstraZeneca’s biologics R&D arm MedImmune and US life sciences group Abpro have spun out a new company – AbMed – to advance the development of a preclinical, novel bispecific antibody that targets angiopoietin-2 and vascular endothelial growth factor (Ang2-VEGF). The antibody, which was engineered by MedImmune scientists, has demonstrated potent activity in animal models, which may be useful in targeting disease indications with high unmet needs, the companies said.

Abpro will oversee the day-to-day leadership of AbMed, which will explore several potential therapeutic areas where inhibition of the Ang2 and VEGF pathways by the bispecific antibody may provide clinical benefit. It will also use its DiversImmune technology platform to further refine the antibody. Under the terms of the deal, AbMed, which will operate as a subsidiary of Abpro, will receive the major share of the global development and commercialization rights. MedImmune, which will hold a minority stake in AbMed, will gain development, regulatory and sales milestones and royalties.

“This collaboration further validates our platform’s ability to develop therapeutic antibodies against traditionally difficult targets, with compelling prospects for potential clinical utility,” commented Ian Chan, Abpro’s CEO and co-founder. Jane Osbourn, vice president of MedImmune’s R&D, added that partners like Abpro can help it maximize its extensive pre-clinical portfolio to advance therapies for patients.