Genentech pays first milestone in ForSight deal

Genentech Inc. said it will make an undisclosed milestone payment to ForSight Vision4 Inc. (Menlo Park, Calif.) under a 2010 deal that gave Genentech exclusive, worldwide rights to develop and commercialize ForSight's implantable ocular device to deliver anti- VEGF-A treatments for ophthalmic disorders. Genentech said the milestone -- the first under the deal -- was triggered by its decision to submit an IND for the refillable drug port delivery system to dispense Lucentis ranibizumab over a period of months. Lucentis, a humanized mAb fragment against VEGF-A, is currently administered via monthly intravitreal injections.

ForSight, which is eligible for milestones and royalties, is collaborating with Genentech on manufacturing and engineering of the device. Genentech, which is responsible for clinical development and commercialization, said the deal provides it with the opportunity to apply the device to other select targets for ophthalmic disorders. Details were not disclosed. Genentech is a unit of Roche (SIX:ROG; OTCQX:RHHBY). ...