Abcam and Shuwen extend strategic alliance in China to develop companion diagnostics
Cambridge, UK and Deqing, China, 07 January 2021 : Today Abcam (AIM:ABC; NASDAQ:ABCM), a global innovator in life science reagents and tools, and Shuwen Biotech (Shuwen), a leading Chinese company focusing on the development and commercialization of companion diagnostics (CDx), announced the signing of an extended strategic cooperation agreement. The agreement will enable expanded collaboration on important companion diagnostic targets that have emerged in China and ex-China in recent years.
SVP Marketing at Abcam
Jay Z. Zhang
CEO and Chairman of Shuwen
Under the terms of the agreement, Abcam will provide highly specific recombinant rabbit monoclonal antibodies and the associated commercial development rights to Shuwen. Shuwen will complete the required immunohistochemical verification and develop the companion diagnostic kits. Abcam will obtain milestone payments linked to kit development and subsequent sales. Specific financial details are not being disclosed.
In 2018, the two parties signed a memorandum of understanding to explore combining the expertise of both parties to design, develop, and commercialize immunohistochemistry-based companion diagnostic kits to meet the growing demand of the pharmaceutical industry. In the past two years, the two parties have worked together successfully on both PD-L1 and Claudin 18.2 kits.