Fargo-based Genovac signs deal with Pfizer for antibody to treat cardiovascular disease

FARGO — Genovac, a Fargo-based biotechnology company, has signed a contract with Pfizer to develop therapeutic antibodies into a drug to treat cardiovascular disease.

The agreement includes an upfront payment for the monoclonal antibodies that Genovac generated in collaboration with a medical researcher at Yale University, William Sessa.

“We’re very excited to partner with Pfizer, who will be responsible for future development and commercialization,” said Brian Walters, Genovac’s chief executive officer.

Sessa’s research involves helping the body’s immune system to fight against cardiovascular disease by using monoclonal antibodies.

“We generated antibodies against his target for testing and ultimately found something he thought would probably be effective,” Walters said. The molecule spurs the body to mount a defense against cardiovascular disease.

“It’s sort of a trigger within the immune system,” Walters said, adding that a drug, if approved, would have wide application. “It definitely has a lot of impact on a lot of people.”

Genovac, an antibody discovery firm divested from Aldevron in 2020, had two options for developing the antibody into a drug.

One would have been to create a new company. That option would have meant the technology would be developed in New Haven, Connecticut, where Sessa’s laboratory is located, Walters said.

Instead, the partners opted to enter an agreement with Pfizer, a pharmaceutical giant with extensive experience in taking drugs through clinical testing to market, he said.

That way, Fargo and North Dakota can glean more of the benefits of developing a drug, said Walters, who was president of the Greater Fargo Moorhead Economic Development Corp. from 2002 to 2010.

If the antibody discovery results in an approved drug, revenues will help to enable other innovations, Walters said. Further payments will be given when milestones are reached, plus royalties on future net sales.

Genovac and Pfizer aren’t commenting on the value of the agreement.

“We agreed not to disclose it,” Walters said, but said it will rank among recent major biotechnology deals. “I can say it falls in the category of those deals.”

Walters added: “It will help us make more investments and look for more of these collaborations. I do think this is an economic sector that can help provide that next step in diversification for the state.”

The assistance North Dakota provides to technology companies is competitive with other sates, he said.

Although based in Fargo, Genovac also has a research and development presence in Germany, where the company was founded in 1999 and later acquired by Aldevron. Genovac has 15 employees in Fargo and more than 30 in Germany and has completed more than 3,500 antibody projects, making it a global leader in antibody discovery.

“Fargo is going to be where the vast majority of our growth will take place in the future,” he said.

Patrick Springer first joined The Forum in 1985. He covers a wide range of subjects including health care, energy and population trends. Email address: [email protected]
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