Collaboration is extended until 2011 and calls for quarterly research funding and new commercial terms.
Allergan has extended and expanded its alliance with ExonHit Therapeutics. The drug discovery collaboration, which began in December 2002, will now continue until December 2011.
Additionally, the scope will increase to include epitope* discovery for the development of antibody therapeutics in ocular disorders. Allergan will provide ExonHit with increased quarterly research funding instead of a single payment.
Finally, the companies have revised the commercial terms of the agreement. Allergan now has expanded rights when sublicensing compounds discovered during the course of the collaboration with ExonHit. In return, ExonHit will receive upfront payments as well as developmental and sales-related milestones fees. ExonHit will also be paid royalties on future sales.
The partnership, which has reportedly already been renewed several times, was formed to focus on the identification, development, and commercialization of drugs for the treatment of neurodegenerative diseases, pain, and ophthalmology. EHT/AGN 0001, the most advanced compound under this alliance, is currently ending Phase I trials in pain indications.