SAN DIEGO, Calif. – AnaptysBio, Inc., a privately-held therapeutic antibody company today announced the initiation of an antibody development program with Momenta Pharmaceuticals, Inc. focused on the development of novel antibodies against a therapeutically relevant target.

Under this agreement, Momenta will pay an upfront fee to AnaptysBio in exchange for an option to acquire antibodies generated by AnaptysBio using its SHM-XEL platform against a specific therapeutic target.  Financial terms of the agreement were not disclosed.

AnaptysBio’s platform technology and antibody development capabilities have been strongly validated by numerous successful partnerships,” said Hamza Suria, AnaptysBio’s president and chief executive officer. “We look forward to working with Momenta on the development of these exciting new antibodies for unmet medical needs.”