ThromboGenics and BioInvent Announce a Strategic Alliance with Roche for an Anti-Cancer Antibody
News Jun 18, 2008
ThromboGenics NV and BioInvent International AB announce that they have entered into a license agreement with Roche 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 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 minimize both the growth and spread of cancer cells.
Svein Mathisen, CEO of BioInvent, commented on the deal: "We believe that TB-403 has great potential for the treatment of cancer, with its unique mode of action targeting PlGF, and are delighted that Roche has recognized this potential. This agreement demonstrates our ability to identify innovative projects and to realize the clinical potential of a therapeutic antibody. We look forward to seeing the product progress further through clinical development and towards market."
Dan Zabrowski, Global Head of Pharma Partnering, Roche added; "We are very pleased to enter this partnership with ThromboGenics and BioInvent. This novel antibody, TB-403 has the potential to play a major role in the treatment of cancer and we are committed to driving ahead with its development. In addition, we look forward to developing a strong working relationship with ThromboGenics and BioInvent."