Allergan and Molecular Partners Enter into an Exclusive License Agreement For MP0112 For the Treatment of Retinal Diseases
IRVINE, Calif. & ZURICH-SCHLIEREN, Switzerland--(BUSINESS WIRE)--
Allergan, Inc. (NYSE:AGN) and Molecular Partners AG today announced that
they have entered into a license agreement for MP0112, a phase II
proprietary therapeutic DARPin® protein targeting VEGF under
investigation for the treatment of retinal diseases.
Under the agreement, Allergan obtains exclusive global rights for MP0112
for ophthalmic indications. The parties will work together during phase
IIb development and, Allergan will be responsible for phase III
development and commercialization activities. Molecular Partners will
receive an up-front payment of USD $45 million and is further entitled
to receive additional payments of up to an aggregate of USD $375 million
upon meeting certain development, regulatory and sales milestones. In
addition, Molecular Partners will receive tiered double-digit royalties
on any future sales of MP0112.
Scott M. Whitcup, M.D., Executive Vice President, Chief Scientific
Officer of Allergan commented: "This agreement aligns with Allergan's
strategy to become a leader in developing new treatments for retinal
disease. The goal of this program is to develop a potentially more
effective treatment for diseases like neovascular age-related macular
degeneration with the possibility for less frequent intravitreal
injections."
Data on MP0112 from two separate phase I/IIa trials in wet age-related
macular degeneration (wetAMD) and diabetic macular edema (DME) were
presented at the meeting of the Association for Research in Vision and
Ophthalmology (ARVO) in Fort Lauderdale, FL earlier this week (May 1-5,
2011). The studies showed that MP0112 is well tolerated and has a
potentially long lasting effect on vision gain after a single injection.
In the studies, for most patients in the cohorts treated with the higher
dose of the investigational compound, the potential beneficial effect on
visual acuity lasted for approximately 16 weeks.
Christian Zahnd, Ph.D., Chief Executive Officer of Molecular Partners
commented: "This is a transformational deal for Molecular Partners, and
Allergan is the ideal partner for MP0112 to build the most value out of
our lead product. Further, this agreement strengthens our ability to
execute on the progression of our substantial internal systemic
pipeline."
Patrick Amstutz, Ph.D., Chief Business Officer of Molecular Partners
added: "This deal validates our DARPin® platform in a clinical setting
and sets the stage for additional clinical stage strategic
collaborations in the near future."
Notes to editors:
About MP0112
MP0112 is a DARPin®-based, small therapeutic
protein, which inhibits all relevant forms of vascular endothelial
growth factor A (VEGF-A) with high potency and selectivity. The molecule
is currently under development for the treatment of wet age-related
macular degeneration (AMD) and diabetic macular edema (DME). Its high
efficacy has been demonstrated in various preclinical models. MP0112 has
shown the potential to show significantly longer therapeutic effects in
various animal models potentially leading to a drug with the need for
less frequent dosing as compared to standard of care.
About Allergan, Inc. (www.allergan.com)
Allergan is a multi-specialty health care company established
more than 60 years ago with a commitment to uncover the best of science
and develop and deliver innovative and meaningful treatments to help
people reach their life's potential. Today, we have more than 9,000
highly dedicated and talented employees, global marketing and sales
capabilities with a presence in more than 100 countries, a rich and
ever-evolving portfolio of pharmaceuticals, biologics, medical devices
and over-the-counter consumer products, and state-of-the-art resources
in R&D, manufacturing and safety surveillance that help millions of
patients see more clearly, move more freely and express themselves more
fully. From our beginnings as an eye care company to our focus today on
several medical specialties, including ophthalmology, neurosciences,
medical aesthetics, medical dermatology, breast aesthetics, obesity
intervention and urologics, Allergan is proud to celebrate 60 years of
medical advances and proud to support the patients and physicians who
rely on our products and the employees and communities in which we live
and work.
About Molecular Partners AG (www.molecularpartners.com):
Molecular Partners is a privately-owned biotech company
focusing on the research, development and commercialization of a novel
class of biological drugs known as DARPins®. The company is committed to
create medicines for diseases with unmet medical need and to
dramatically improve existing therapies. DARPins® combine the high
specificity, selectivity and safety of monoclonal antibodies with many
advantages of small molecules, including high stability and low-cost
production.
Molecular Partners has established a strong DARPin® pipeline which is
well differentiated from standard therapeutic approaches. Next to
MP0112, Molecular Partners is focusing on DARPin® drugs in inflammation,
oncology and other disease areas. The internal pipeline is expanded by
partnered programs with leading pharmaceutical companies. Molecular
Partners has established collaborations with F. Hoffmann-la Roche,
Centocor Research & Development Inc. and Bayer Schering Pharma. The
company is backed by a strong syndicate of investors and holds a strong
patent estate covering all DARPin® applications.
Allergan Forward-Looking Statements
This press release
contains "forward-looking statements," including, but not limited to,
the statements by Drs. Whitcup, Zahnd and Amstutz and other statements
regarding the development of MP0112 as well as the safety,
effectiveness, approvals, adverse events and market potential of MP0112.
These statements are based on current expectations of future events. If
underlying assumptions prove inaccurate or unknown risks or
uncertainties materialize, actual results could vary materially from
Allergan's expectations and projections.
Risks and uncertainties include, among other things, general industry
and pharmaceutical market conditions; technological advances and patents
attained by competitors; challenges inherent in the research and
development and regulatory processes; challenges related to product
marketing, such as the unpredictability of market acceptance for new
products and/or the acceptance of new indications for such products;
inconsistency of treatment results among patients; general economic
conditions; and governmental laws and regulations affecting domestic and
foreign operations. Allergan expressly disclaims any intent or
obligation to update these forward-looking statements except as required
by law. Additional information concerning the abovereferenced risk
factors and other risk factors can be found in Allergan's public
periodic filings with the Securities and Exchange Commission, including
the discussion under the heading "Risk Factors" in Allergan's 2010
Annual Report on Form 10-K. Additional information about Allergan is
available at www.allergan.com
or you can contact the Allergan Investor Relations Department by calling
714-246-4636.
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For Molecular Partners:
Media relations
Nicole
Yost
College Hill Life Sciences
Tel: +44 (0) 20 7866 7855
nicole.yost@collegehill.com
or
Molecular
Partners
Dr. Christian Zahnd, CEO
Dr. Patrick Amstutz, CBO
Tel:
+41 (0) 44 755 77 00
info@molecularpartners.com
Source: Molecular Partners
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