Regeneron, Bayer deal
Regeneron and Bayer partnered to develop Regeneron's antibody against platelet derived growth factor receptor B ( PDGFRB; PDGFR1; CD140B) as a combination therapy with the partners' Eylea aflibercept to treat wet age-related macular degeneration (AMD). Regeneron will be responsible for development through to completion of the first proof-of-concept trial, upon which Bayer will have the option to co-conduct further development. A Phase I trial to evaluate the combination in a single injection is slated to begin this quarter.
Under the deal, Bayer will make an upfront payment of $25.5 million and share global development costs. Bayer will have exclusive commercialization rights outside the U.S., where the partners will share profits equally; and Regeneron will have exclusive commercialization rights in the U.S., where it will retain all profits. Regeneron will be eligible for up to $40 million in options and milestones through regulatory approval. Bayer is also responsible for royalties on ex-U.S. sales and the share of development milestones due to Sanofi (Euronext:SAN; NYSE:SNY, Paris, France) from Regeneron. Regeneron acquired full rights from Sanofi to antibodies targeting PDGF for all indications, including ophthalmology, last year (see BioCentury, May 6, 2013). ...