BioInvent and ThromboGenics announce a strategic alliance with Roche for TB-403, a novel anti-cancer antibody
[2008-06-18 7:00]
Lund, Sweden, Leuven, Belgium and Basel, Switzerland - 18 June 2008 - BioInvent International AB (OMX Nordic Exchange Stockholm: BINV) and ThromboGenics NV (Euronext Brussels: THR) 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 BioInvent and ThromboGenics an upfront payment of ?50 million. In addition, BioInvent and ThromboGenics could potentially receive up to ?450 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. BioInvent and ThromboGenics will retain co-promotion rights for the product in the Nordic, Baltic and Benelux regions.
BioInvent and ThromboGenics 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 BioInvent and ThromboGenics. BioInvent and ThromboGenics in conjunction with Roche will form a Joint Steering Committee to oversee research and development activities. In addition, Roche will also provide funding to BioInvent and ThromboGenics for research on non-cancer indications and supply of clinical material until transfer of manufacturing.
TB-403 (Anti-PIGF) has completed an initial Phase I clinical trial and recently received approval to enter a Phase Ib dose escalation trial. This Phase Ib trial will be conducted in patients with advanced cancer and is due to commence shortly in Denmark.
TB-403 has the potential to be a major advance in the treatment of cancer. It is a humanized monoclonal antibody that blocks the formation of the new blood vessels that are needed by solid tumours to support their growth. TB-403 has the potential to minimise both the growth and spread of cancer cells. |
