Sirna and Allergan Enter into Strategic Ophthalmology Alliance
News Sep 30, 2005
Sirna Therapeutics, Inc. has announced that it has entered into a multi-year alliance with Allergan, Inc. to develop Sirna-027, an RNAi-based therapeutic currently in Phase I for age-related macular degeneration (AMD), and to discover and develop other RNAi-based therapeutics against select gene targets in ophthalmic diseases.
Sirna will receive an initial payment of $5 million and be eligible for development milestones of up to $245 million in addition to research funding and royalties on the worldwide sales of products resulting from the alliance. Sirna also will receive contract manufacturing revenues.
“We are pleased to enter into this exciting collaboration with Sirna, a pioneer in RNAi-based therapeutics,” said Dr. Scott Whitcup, Allergan’s Executive Vice President, Research & Development.
“Through our collaboration with Sirna, we will seek to leverage this cutting edge technology to rapidly design and develop selective compounds that inhibit multiple targets involved in sight-threatening ocular diseases.”
Allergan will assume all development and future commercialization responsibilities for Sirna-027 and will bring to the alliance their proprietary ocular drug delivery technologies for the administration of RNAi-based therapeutics.
Sirna will develop optimized lead compounds against Allergan’s identified gene targets and Allergan will be responsible for all pre-clinical, clinical and commercialization activities for those compounds.
The companies will form a Joint Steering Committee to oversee the alliance and move Sirna compounds through Allergan’s discovery and development pipeline.
“We are excited to establish this alliance with Allergan - a global leader in the treatment of ocular diseases,” stated Howard W. Robin, President and CEO of Sirna Therapeutics.
“This strategic alliance allows Sirna to bring the power of its research capabilities to the design and development of novel siRNA therapeutics for ocular diseases.”
“This alliance is an excellent example of Sirna’s strategy to partner our world class expertise in RNAi biology and chemistry with companies that lead the research community in understanding the molecular etiology of important human diseases.”