Abveris Announces Multi-Target, Multi-Year Therapeutic Antibody Discovery Collaboration with Prometheus Biosciences

CANTON, Mass. and SAN DIEGO, Nov. 11, 2021 /PRNewswire/ -- Abveris, a leader in antibody drug discovery, today announced that Prometheus Biosciences and Abveris have entered a multi-year collaboration to develop therapeutic antibodies against multiple targets. The partnership will expand Abveris's role in supporting the rapid development of the Prometheus Biosciences portfolio. The results of the collaboration will bring promising new therapeutics to patients suffering from a variety of immune-mediated diseases.

Under this partnership agreement, Abveris will utilize its proprietary DiversimAb^TM hyperimmune mouse technology in combination with humanized mice to develop antibodies against several novel therapeutic targets. Capitalizing on the use of its industry-leading rapid B cell screening platform powered by the Berkeley Lights Beacon^®, Abveris will identify promising antibody drug candidates via function-forward, high-resolution screening under expedited timelines.

"We are proud to expand our existing partnership with the team at Prometheus Biosciences to help bring novel biologics to the autoimmune space," commented Tracey Mullen, Chief Executive Officer at Abveris. "The Abveris antibody discovery platform, combined with the drug development capabilities of the Prometheus team, will provide promising therapeutics to patients around the world."

"Our team has been impressed by Abveris' exceptional level of scientific expertise and ability to discover and deliver antibodies with potential to translate into therapeutic candidates" said Olivier Laurent, Ph.D., Chief Technology Officer of Prometheus. "We look forward to continuing our partnership with Abveris to aid in our portfolio expansion with the common goal of bringing transformational therapies to patients."

About Prometheus Biosciences:
Prometheus Biosciences, Inc. is a clinical-stage biotechnology company pioneering a precision medicine approach for the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of immune-mediated diseases, starting first with inflammatory bowel disease (IBD). The Company's precision medicine platform, Prometheus360, combines proprietary machine learning-based analytical approaches with one of the world's largest gastrointestinal bioinformatics databases to identify novel therapeutic targets and develop therapeutic candidates to engage those targets.

The Company's lead candidate, PRA023, is an IgG1 humanized monoclonal antibody (mAb) for the treatment of the two most common forms of IBD, Ulcerative Colitis (UC) and Crohn's Disease (CD). The Company has initiated enrollment in a Phase 2 trial in UC patients and a Phase 2a trial in CD patients, each utilizing a genetic-based companion diagnostic designed to identify patients more likely to respond to PRA023.

About Abveris:
Abveris is Boston's premier antibody discovery company providing contract research services to the biopharma industry. Abveris applies advanced immunization methods combined with B cell screening and hybridoma-based antibody discovery technologies to provide comprehensive gene-to-antibody discovery services. Abveris is developing the next generation of biologics, cell therapies, vaccines, and diagnostics in partnership with global biopharma leaders. Additional information about Abveris is available at www.ABVERIS.com.

Contact
Garren Hilow
Chief Business Officer
(781) 562-1170
[email protected]

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