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GEN News Highlights : Oct 6, 2009

SurModics Obtains $3.5M Up Front in Ophthalmic Deal with Roche and Genentech

Firms will leverage SurModics’ delivery technology with Lucentis and potentially other compounds.

Roche and Genentech are paying SurModics an up-front $3.5 million fee to use its biodegradable microparticles drug delivery system with Lucentis, approved for wet age-related macular degeneration. The exclusive license and development agreement further provides Roche and Genentech with opportunities to develop additional compounds for the treatment of ophthalmic diseases using SurModics’ technology. The firms may also obtain manufacturing services from SurModics.

Roche and Genentech have agreed to pay up to approximately $200 million in the form of development-based milestones as well as service fees related to R&D and manufacturing. SurModics will also receive royalties on product sales.

The deal comes a day after Genentech reported positive results from two late-stage trials with Lucentis in macular edema due to retinal vein occlusion. The drug is a vascular endothelial growth factor. It is being developed by Genentech and the Novartis Ophthalmics Business Unit for diseases or disorders of the eye. Genentech retains commercial rights in the U.S., and Novartis has exclusive commercial rights for the rest of the world.