Molecular Partners will receive $35 million in accelerated milestone payments as part of the strengthened alliance.
Molecular Partners has announced that Allergan has reinforced its commitment to the development of multiple DARPin‐based products in ophthalmology. The global pharma company has agreed to make accelerated milestone payments of $35 million as part of its strengthened alliance.
The collaboration includes a multi‐VEGF/PDGF DARPin currently in preclinical development and several additional discovery programs. Abicipar, a long-acting VEGF antagonist, for which Phase III development was recently initiated, was the first DARPin in the partnership.
Schlieren-based Molecular Partners is also entitled to receive additional payments and certain milestone payments from Allergan in connection with abicipar, the multi‐VEGF/PDGF DARPin and additional discovery programs. This includes up to more than $1.7 billion in aggregate development, regulatory and sales milestones, as well as tiered royalty payments on future product sales. Molecular Partners also retains an option to co‐fund development costs in exchange for a royalty step‐up on the multi‐VEGF/PDGF DARPin.
Christian Zahnd, CEO of Molecular Partners, says he is very pleased to see Allergan’s continued commitment to the collaboration and looks forward to the joint development of a pipeline to treat severe eye diseases.
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