BioMotiv, a Shaker Heights-based firm seeking to aid in the commercialization of a wide range of pharmaceuticals, announced today that the company has launched a new company called Kodosil Bio which focuses on developing treatments with antibodies for bowel disease and cancers. The newly-formed company is the result of a strategic licensing agreement between BioMotiv and BioAtla, a San Diego-based company.
“BioAtla is a unique company and partner in this industry given its robust, proprietary platform for identifying and developing promising therapeutics antibodies,” said Baiju R. Shah, BioMotiv CEO in a news release. “We are pleased to partner with them on this important opportunity which targets an immunology pathway that is gaining increasing recognition for its role in multiple disease conditions.”
BioMotiv works from early-stage discoveries to advancing of drugs through clinical development to license them out. The company features an interesting business model: it is a for-profit component of a larger $250 million drug development effort based at University Hospitals, which takes on early-stage discoveries such as those being conducted at BioAtla, and works through clinical trials to develop them to the point where they can be licensed out.
Now, with BioAtla, it is possible that the new company’s early-stage discoveries could eventually take the same route: according to a company press release, the new agreement between the two companies stipulates that BioAtla will receive a substantial portion of proceeds when the products developed by Kobosil Bio are sublicensed or divested.
“We believe BioMotiv will be an ideal partner to take the antibody forward into the clinic, building on our solid discovery foundation that demonstrates the value of this antibody in the potential treatment of a variety of disease indications where there is considerable unmet need in large market opportunities,” said Jay M. Short, president and CEO of BioAtla in the release.