Menarini in $1 billion partnership with Oxford BioTherapeutics for cancer drug development

In a second major deal within just over a year for the UK-based antibody-based drug developer, BioTherapeutics (OBT) has entered into a major innovative and strategic alliance with family-owned Italian drugmaker Menarini to develop a portfolio of antibody-based drugs in the field of cancer, for which the latter has ear-marked an 800 million-euro ($1.03 billion) investment.

The deal covers five of OBT’s antibody and antibody drug conjugate (ADC) programs, each of which addresses a different cancer indication via a different novel oncology target. The deal brings together OBT’s discovery expertise with Menarini’s clinical knowledge, and expanding capabilities in the manufacture and development of biologics, to build value for both companies as they work to bring this portfolio of next generation antibody-based cancer drugs to market.

Under the collaboration, Menarini will lead the efforts in the manufacture and clinical development of each program, supported by OBT, while OBT will provide the proprietary cancer target, antibody and arming technologies.