LEUVEN, Belgium, LUND, Sweden and BASEL, Switzerland, June 18 /PRNewswire-FirstCall/ -- ThromboGenics NV (Euronext Brussels: THR) and BioInvent International AB (Nordic Exchange: BINV) announce that they have entered into a license agreement with Roche (SWX: ROG) for their jointly developed anti-cancer agent TB-403. TB-403 is a novel monoclonal antibody which blocks Placental Growth Factor (PIGF), one of the growth factors responsible for the development of new blood vessels.
Under the terms of the agreement effective from June 17, 2008 (or if a U.S. anti-trust clearance is required, from the date of receipt of such clearance), Roche will pay ThromboGenics and BioInvent an upfront payment of EUR50 million. In addition, ThromboGenics and BioInvent could potentially receive up to EUR450 million over the term of the collaboration based on the successful completion of a series of development and commercial milestones for multiple indications, as well as double digit royalties on potential product sales, including any backup antibodies based on inhibition of PlGF. ThromboGenics, which discovered TB-403, will receive 60% and BioInvent 40% of the revenue from the deal. Roche will have a worldwide, exclusive license to develop and commercialize TB-403. ThromboGenics and BioInvent will retain co-promotion rights for the product in the Benelux, Baltic and Nordic regions.
ThromboGenics and BioInvent are responsible for any remaining costs
associated with the recently completed Phase Ia trial in healthy
volunteers. Roche will assume responsibility for all future development
costs for this novel therapy, including the costs of the pending Phase Ib
trial in patients to be run by ThromboGenics and BioInvent. ThromboGenics
and BioInvent in conjunction with Roche will form a Joint Steering
Committee to oversee research and development activities. In addition,
Roche will also provide funding to ThromboGenics and BioInvent for research
on non-cancer indications an
|SOURCE ThromboGenics NV|
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