Molecular Partners receives USD 15 million milestone payment

Abicipar is an investigational drug for the treatment of retinal diseases such as wet AMD, a leading cause of blindness in the western world. Abicipar is expected to allow for less frequent dosing compared to currently approved treatments which require monthly or bi-monthly injections into the eye.

 “We are very pleased to see abicipar moving forward into pivotal development. Abicipar bears the hope to relieve the burden of patients of frequent injections into the eye and to potentially improve their vision compared to current treatments,“ said Christian Zahnd, Chief Executive Officer of Molecular Partners.

Abicipar is further being investigated for the treatment of diabetic macular edema (DME) in an ongoing phase II clinical trial.

In 2011, Molecular Partners had entered into a license and collaboration agreement with Allergan. Under the terms of this agreement, the company granted Allergan exclusive worldwide rights for abicipar in the field of ophthalmology for the potential to earn up to USD 225 million in development and regulatory milestone payments, plus up to USD 150 million in potential sales milestones. In addition, Molecular Partners is eligible to receive double-digit tiered royalty payments on future net sales of abicipar.

“We would like to thank everyone who contributed to the program, internally and externally, for supporting us to reach this important milestone fully in line with the envisaged timeline,“ said Patrick Amstutz, Chief Operating Officer of Molecular Partners.