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. Â
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.