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Anaphore Enters R&D Partnership with Mitsubishi Tanabe Pharma to Develop and Commercialize Novel Protein Pharmaceuticals for Autoimmune Disorders
Date:12/13/2010

LA JOLLA, Calif., Dec. 13, 2010 /PRNewswire/ -- Anaphore Inc. today announced that the company has entered into a partnership with Mitsubishi Tanabe Pharma Corporation (Osaka, Japan) for the research, development and commercialization of novel protein therapies for autoimmune disease.

The partnership will be based on Anaphore's proprietary platform technology, which generates novel trivalent proteins called Atrimers(TM) with binding domains that can be programmed to bind to and activate or inhibit nearly any target of interest. The agreement stipulates an initial target for the research program. Tanabe Research Laboratories U.S.A., Inc. (TRL), a San Diego-based subsidiary of Mitsubishi Tanabe Pharma, has the option to nominate two additional autoimmune targets against which Anaphore would develop potential protein therapeutics. Under the terms of the agreement, Mitsubishi Tanabe Pharma will make an upfront payment of $5 million for an initial target and contribute research funds. In addition, Anaphore will receive milestone payments totaling $110 million and tiered royalties on sales, provided the nominated molecule achieves full commercialization. Financial terms are substantially similar in the event TRL nominates two additional targets.

"Our work with Anaphore will further strengthen our initiative to bring next-generation biologics to physicians and their patients," said Minoru Muramatsu, Ph.D., Executive Officer, Research, Mitsubishi Tanabe Pharma. "We will initiate the research program immediately to expand on the promising work Anaphore has already done with Atrimer technology."

The partnership will focus on strategies to develop superior biologic therapies for autoimmune disorders, such as rheumatoid arthritis, inflammatory bowel disease and psoriasis. TRL
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SOURCE Anaphore Inc.
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