SAN DIEGO, Sept. 21, 2023 /PRNewswire/ -- Inmagene Biopharmaceuticals (Inmagene), a clinical-stage biotech company developing innovative and differentiated therapies for immunological and inflammatory diseases, today announced its partnership with Aditum Bio to create Celexor Bio (Celexor), a new biotech company focused on cell depletion of pathologic cells in autoimmune and inflammatory disorders. Celexor has been formed based on Inmagene's IMG-018, a pDC depleting antibody targeting immunoglobulin-like transcript 7 (ILT7). Celexor will obtain the exclusive global rights to develop, manufacture, and commercialize IMG-018, which will be renamed CLXR-901, in a transaction anticipated to close later this month.
"We are pleased to partner with Aditum Bio, a highly innovative venture capital firm established by pharma industry leaders with deep drug development experience," said Jonathan Wang, PhD, Chief Executive Officer of Inmagene. "The formation of Celexor, based on IMG-018, has demonstrated Inmagene's strengths in discovering innovative and differentiated drug candidates."
"Aditum Bio's unique incubator model enables us to accelerate the development of novel medicines, and we look forward to bringing this promising therapy to patients in need," said Joe Jimenez, Co-Founder and Managing Director of Aditum Bio.
Under the terms of the agreement, Inmagene will be paid an upfront fee and is eligible to receive up to $287 million in development and sales milestone payments, as well as royalties on future product sales. In addition, Inmagene will be granted an equity stake in Celexor Bio.
About IMG-018 (to be renamed CLXR-901)
Created by Inmagene's proprietary QuadraTek® technology platform, IMG-018 is a monoclonal antibody that binds to the ILT7 receptor on the surface of plasmacytoid dendritic cells (pDCs) and recruits effector cells which help deplete pDCs. IMG-018/CLXR-901 has an enhanced effector function and allows for pDC depletion via the engagement of multiple cell types. These features have the potential to differentiate the ability of IMG-018/CLXR-901 to address immune disorders where ILT7 receptor and pDCs are involved.
About Inmagene Biopharmaceuticals
Inmagene is a global clinical-stage biotech company focused on developing novel therapeutics for immunological and inflammatory diseases. It has four clinical assets and an innovative preclinical pipeline. The company is developing its highly differentiated clinical assets, including IMG-007 (anti-OX40 mAb with extended half-life and silenced ADCC function), IMG-004 (BTKi with long half-life and pharmacodynamic duration) and IMG-008 (long-acting anti-IL-36R mAb). With its partners, Inmagene is co-developing IMG-020 (izokibep, an anti-IL-17 fusion protein), in which Inmagene owns certain global upside as well as development and commercialization rights in certain Asia regions. Further information is available at www.inmagenebio.com.
About Aditum Bio
Aditum Bio is committed to improving public health by accelerating R&D in disease areas with both large and more targeted patient populations, where medical innovation can have a significant impact. Aditum Bio focuses on mechanisms of disease, in-licenses promising drug candidates directed at such pathophysiology, and spins out individual companies dedicated to bringing each candidate through clinical trials. For more information, please visit www.aditumbio.com.
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Anna Vardanyan
public.relations@inmagenebio.com