Celexor Bio is the tenth company formed by Aditum Bio
OAKLAND, Calif. , Sept. 21, 2023 /PRNewswire/ -- Aditum Bio, the biotech investment firm cofounded in 2019 by former Novartis CEO Joe Jimenez and former President of the Novartis Institutes for BioMedical Research (NIBR) Dr. Mark Fishman, today announced the formation of Celexor Bio, a portfolio company created for the development of novel therapies for inflammatory disorders. Celexor Bio is being formed in connection with the in-licensing of a depleting antibody targeting immunoglobulin-like transcript 7 (ILT7), a highly specific cell surface marker found on plasmacytoid dendritic cells (pDCs), which is anticipated to close later this month. The compound (IMG-018) is being licensed from Inmagene Biopharmaceuticals and will be renamed CLXR-901.
pDCs are a dendritic cell subtype specialized in secreting high levels of Type I interferons and other pro-inflammatory cytokines. The pathological activation of pDCs has been implicated in the pathophysiology of several autoimmune and inflammatory diseases. CLXR-901 rapidly and potently depletes these pathological cells, offering a potentially safe and effective alternative for severe autoimmune and inflammatory disorders.
"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. Dr. Mark Fishman, Co-Founder and Chair of the Medical and Scientific Advisory Boards, added, "pDCs play a key role in the pathophysiology of multiple autoimmune and inflammatory diseases. By directly depleting the pathological cells, CLXR-901 may offer a safe and effective alternative for these challenging disorders."
Celexor Bio is the tenth company launched by Aditum Bio, whose mission is to give large patient populations access to medicines which otherwise may not be developed. To speed these drugs to market, Aditum Bio fosters an incubator model, focusing on the translational phase of drug development. The "spin out" model enables a nimble, start-up culture with a dedicated team of managers supported by Aditum's in-house team of operational and technical area experts, ranging from nonclinical pharmacology and CMC to regulatory affairs and clinical operations.
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.
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 in addition to development and commercialization rights in some Asia regions. Further information is available at www.inmagenebio.com.
SOURCE Aditum Bio
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