Allergan, Molecular Partners in ophthalmic deal

Molecular Partners AG (Schlieren, Switzerland) granted Allergan Inc. (NYSE:AGN) exclusive, worldwide rights to develop and commercialize MP0112 for ophthalmic indications. The product has completed two Phase I/IIa trials to treat wet age-related macular degeneration (AMD) and diabetic macular edema. Molecular Partners will receive $45 million up front, and is eligible for up to $375 million in milestones, plus royalties. The partners plan to collaborate on development through Phase IIb testing, after which Allergan will be responsible for Phase III testing and commercialization. MP0112 is a designed ankyrin repeat protein (DARPin) that antagonizes VEGF-A. ...