Amunix Operating Inc. announced that Biogen Idec has exercised its option to enter into an exclusive, worldwide license agreement to research and develop novel, fully-recombinant Factor VIII products with improved therapeutic properties. Under the terms of the option agreement, Amunix will receive an upfront $1 million payment and will also be eligible to receive up to $38 million in clinical and commercial milestone payments. In addition, royalties will be paid on commercial sales by Biogen Idec for Factor VIII products incorporating Amunix proprietary XTEN technology.In March 2011, Amunix and Biogen Idec initiated a Research and Option Agreement under which both companies would collaborate to combine Amunix’s expertise in protein half-life extension and its proprietary XTEN technology with Biogen Idec’s expertise in both hemophilia and engineering long-lasting coagulation factors. Under the license agreement announced today, Biogen Idec triggered its option for XTENylated Factor VIII products. Biogen Idec will be responsible for developing, manufacturing and commercializing therapeutic product candidates resulting from the collaboration.
“We are pleased to be working with Biogen Idec as our partner, and their decision to exercise this option validates the utility of our XTEN technology,” said Volker Schellenberger, Amunix president and chief executive officer.
“The initial research collaboration resulted in the discovery of molecules that are clearly differentiated from current Factor VIII products in that they retain procoagulant activity while having unprecedented half-life in animal models,” Schellenberger added. “Collaborations such as ours with Biogen Idec are a central element of the Amunix strategy to facilitate the use of XTEN in a wide range of therapeutic applications.”
Date: April 21, 2014
Source: Amunix
Filed Under: Drug Discovery
