Roche licenses TB-403
ThromboGenics (Euronext:THR) and partner BioInvent (SSE:BINV) granted Roche (SWX:ROG) an exclusive, worldwide license to develop and commercialize TB-403 for cancer and other, undisclosed indications. The mAb against placental growth factor (PlGF) has completed a Phase Ia trial, and a Phase Ib trial in advanced cancer is expected to start shortly. Roche also will receive rights to any mAbs or antibody-like molecules developed by the partners that inhibit PlGF.
ThromboGenics and BioInvent will receive EUR 50 million ($76.9 million) up front and are eligible for EUR 450 million ($692 million) in milestones, plus double-digit royalties. ThromboGenics, which discovered TB-403, will receive 60% and BioInvent 40% of revenues from the deal. The partners also will retain co-promotion rights for TB-403 and any other PlGF inhibitors in the Benelux, Baltic and Nordic regions. Roche will be responsible for all future development costs and will provide funding for research on non-cancer indications. ...