ThromboGenics and BioInvent Receive Technology Transfer Success Fee From Roche for the Novel Anti-Cancer Antibody, TB-403 (...( LEUVEN Belgium and LUND Sweden Ja...),Health

LEUVEN, Belgium and LUND, Sweden, January 26 /PRNewswire-FirstCall/ -- ThromboGenics NV (EURONEXT:THR) and BioInvent International AB (OMXS:BINV) announce today that they have received a technology transfer success fee of EUR5 million from Roche under the terms of their strategic alliance for the novel anti-cancer antibody, TB-403. The payment has been triggered by the successful transfer and implementation of technology and process development to Roche in relation to the ongoing clinical development of TB-403.

The TB-403 strategic alliance with Roche was signed in June 2008. Under the terms of this ongoing agreement, ThromboGenics and BioInvent received an initial upfront payment of EUR50 million, with the potential of milestone payments of up to EUR450 million following completion of a series of development and commercial milestones, as well as double digit royalties on future sales. ThromboGenics, which discovered TB-403, receives 60% and BioInvent 40% of the revenue from the deal.

Under the terms of the agreement, Roche is responsible for all development costs for TB-403, including the completion of the Phase Ib trial currently being run by BioInvent and ThromboGenics.

TB-403 (anti-PlGF) is a humanized monoclonal antibody that blocks the formation of the new blood vessels required by solid tumours to support growth. PlGF is a homologue of VEGF, and clinical evidence suggests that it plays a role in the angiogenesis of malignant tissue, and does not affect normal tissue angiogenesis.

Patrik De Haes, CEO of ThromboGenics, commented, "We are very pleased to be able to make this announcement today. The fact that we have been able to achieve the goal that has triggered this payment from Roche so quickly highlights the excellent working relationship that has developed between all parties in this important strategic alliance. We are looking forward to the results of the current Ph
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