NEW YORK – Indivumed and Xlife Sciences said on Thursday that they have partnered to establish Ix Therapeutics, a joint venture with the goal of developing precision cancer therapeutics.
The joint venture marks Indivumed's official foray into drug development with Switzerland-based Xlife, a company that invests in life sciences technologies through strategic partnerships.
Previously, Hamburg, Germany-based Indivumed was primarily focused on building its artificial intelligence-enabled data analytics platform, which it uses with its multi-omics IndivuType database to discover and validate novel therapeutic targets. Now, through Ix Therapeutics, Indivumed and Xlife will work toward developing therapies against these targets.
The new venture will use technology from Veraxa Biotech — a company that develops functional antibodies and antibody drug conjugates for biopharmaceutical companies in exchange for license agreements — to develop its first treatments. Ix Therapeutics will focus first on developing therapies for colon and lung cancers.