Shares of Vaccinex (VCNX) has skyrocketed 125% today on the signing of two multi-project deals for the use of ActivMAb platform in leading pharmaceutical companies.
The platform will allow the leading pharmaceutical companies to discover complex antigens to enable antibody discovery. The leading pharmaceutical companies are currently undisclosed. The financing is also undisclosed, however, the collaborations will focus on using ActivMAb, Vaccinex’s antibody discovery and novel viral display platform, for antibody discovery against complex antigens such as GPCRs and ion channels.
Our ActivMAb platform has delivered numerous promising antibody-based solutions for complex therapeutic targets, both for our own R&D efforts and those of our partners, these two collaboration agreements with prominent pharmaceutical companies underscore ActivMAb’s unique ability to discover promising antibodies against challenging molecules with tangible R&D value. We look forward to working closely with our partners to develop potential treatments specific for such previously hard to drug targets.Ernest Smith, chief scientific officer of Vaccinex