UCB has teamed up with Liverpool start-up Refold Therapeutics in a global licensing deal to develop new antibody treatments for amyloidosis, highlighting how large drug makers are increasingly working with specialist biotechs to translate complex science into new medicines.
Origin story
Refold, founded in 2024 as a University of Liverpool spin‑out, has secured an exclusive global licence to develop UCB‑owned antibodies that target misfolded “free light chains” – rogue protein fragments that build up in tissues and can prove fatal.
These proteins sit at the heart of light chain amyloidosis, the most common form of systemic amyloid disease, as well as a clutch of cancers including hepatocellular carcinoma. “We’re delighted to partner with UCB,” said Tom Crabbe, CEO and Co‑Founder, Refold Therapeutics. “Patients with light chain amyloidosis would benefit from an earlier diagnosis combined with improvements to their treatment.”
Impact on patients
For patients, the unmet need is extremely high. In this type of amyloidosis, certain immune proteins fold incorrectly and clump together, building up in vital organs such as the heart and kidneys. This can cause symptoms including breathlessness, swelling and severe fatigue, with current treatment options holding limited ability to remove proteins already in place.
In its work, Refold plans to use UCB’s antibodies both to help identify harmful free light chains earlier and to neutralise them once present. The aim is to improve survival outcomes, rather than simply slow disease progression. The same antibody constructs will also be used to investigate the role of free light chains in driving tumour growth in cancers such as liver cancer, which could open a route into oncology if successful.
Deal terms
Under the deal UCB receives an upfront payment along with potential milestones and royalties on future sales, while Refold takes the lead on turning the constructs into clinical‑stage drugs. “License agreements such as this one are testament to the calibre of UCB’s innovative science and antibody expertise as well as a clear demonstration of the value we are creating through strong research productivity,” said Alistair Henry, Executive Vice President and Chief Scientific Officer, UCB.
Across the industry at large, this sort of out‑licensing is becoming a favoured strategy: place early but promising assets with nimble biotechs that live and breathe a certain disease area, then share in the upside if they succeed. It is an increasingly popular way to keep pipelines broad without carrying every project on the in‑house balance sheet.
Win for Liverpool
Refold is backed by LYVA Labs, Liverpool’s regional innovation vehicle, joining a growing crop of spin‑outs translating university science into commercial ventures, from oncology‑focused Galytx to food safety start‑up Plasma Fresh. Their rise signals a shift in the UK life sciences map, with serious drug discovery and deal‑making now taking place beyond the Golden Triangle of London, Oxford and Cambridge.
