Crescendo Biologics Ltd. (Cambridge, U.K.) granted Zai Lab Ltd. (NASDAQ:ZLAB) exclusive, worldwide rights to an undisclosed antibody based on its Humabody platform.
Crescendo received an upfront payment and is eligible for milestones and royalties. Zai and Crescendo each declined to discuss financial terms or details about the antibody.
Humabodies are small antigen-binding proteins composed of human immunoglobulin heavy chain variable region (Ighv) fragments generated in mice. The companies said Zai expects to submit an IND next year to start clinical testing in psoriasis for the Humabody it licensed (see BioCentury Innovations, April 6, 2017).
Last month, Crescendo raised $70 million in a series B round that included Quan Capital. Quan's co-founders include Samantha Du and Marietta Wu, who co-founded Zai in 2013 (see BioCentury, Nov. 10, 2017).