Invenra announced last week that is has teamed up with UK-based biotech company Oxford BioTherapeutics (OBT) to identify and characterize a panel of fully human therapeutic monoclonal antibodies (mAbs) against a novel cancer target.

“This collaboration is a major milestone for Invenra as a company and a validation of our innovative technology,” Invenra CEO and President Roland Green said in a statement. “We are delighted to be collaborating with Oxford BioTherapeutics to identify best-in-class antibodies against their novel oncology target.”

According to a release, OBT will be responsible for all further development of the therapeutic product candidates. Assuming successful development, Invenra could receive further milestone payments and royalties on net sales of therapeutic and diagnostic products.

Financial terms of the agreement were not disclosed.