Firms will take an equity position in Ophthotech and are eligible for milestone payments and royalties.
Biogen Idec and PDL BioPharma granted Ophthotech rights to volociximab for ophthalmic uses. The compound is a mAb targeting a5b1 integrin, a protein involved in angiogenesis.
In return for the worldwide development and commercialization license, Biogen Idec and PDL will each receive an equity position in Ophthotech. The firms will also be paid a development milestone payments and royalties.
“a5b1 integrin is a critical survival factor for proliferating endothelial cells involved in angiogenesis,” points out Samir Patel, M.D., president and CEO of Ophthotech. “The preclinical studies to date provide strong support for developing volociximab for ophthalmic indications. It represents a potential breakthrough for the treatment of AMD.”
Separately, Biogen Idec and PDL are co-developing volociximab in solid tumor cancers. The companies retain rights in all other indications.
