ThromboGenics and BioInvent inked a deal with Roche covering development and commercialization of TB-403, their jointly developed Phase I anticancer agent. In exchange for a worldwide exclusive license to TB-403, Roche will make an upfront payment of $77.41M (EUR50 million).
In addition, ThromboGenics and BioInvent could potentially receive up to $696.89M (EUR450M) based on the successful completion of a series of development and commercial milestones for multiple indications, as well as double-digit royalties on potential product sales, including any backup antibodies based on inhibition of PlGF. TB-403 was in-licensed by ThromboGenics from the Flanders Institute for Biotechnology where the therapeutic potential of anti-PlGF agents to treat cancer was first developed.
ThromboGenics will receive 60% and BioInvent 40% of the revenue from the deal.
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