Arana (ASX: AAH) and CSL (ASX: CSL) have completed their second collaborative research project together, paving the way for CSL to develop new pharmaceuticals.

A lead antibody from the CSL pharmaceutical pipeline was run through Arana's Superhumanisation technology, which converts murine antibodies into a humanised form. It was further optimised for affinity using Arana's EvoGene technology platform.

As well as the one-off payment for completing the research, Arana will also be entitled to royalties if CSL choose to develop one of the modified antibodies for clinical testing.

This is the second time CSL and Arana have collaborated, and the third collaborative project Arana has completed.

Arana's stock price has remained relatively stable despite the announcement.