Both companies will work on preclinical development of this RNAi therapeutic.
Oncolys BioPharma exercised its option to acquire the Asian rights to Tacere Therapeutics’ preclinical HCV therapy. The $60 million agreement includes development and commercialization of the RNAi-based compound TT-033 throughout Asia.
The option is part of a strategic alliance formed between the firms in June 2007 covering TT-033. Then in January of this year, Pfizer entered a $145 million partnership to back the development of this candidate in the rest of the world.
Oncolys and Tacere will form a joint steering committee to work with the Tacere and Pfizer steering committee to oversee preclinical R&D. In addition to an upfront payment, Tacere will be eligible to receive milestone fees related to development, approval, and commercialization. Oncolys will also pay royalties.
If Oncolys sublicenses its rights, the milestone payments and sales royalties Oncolys receives will be shared with Tacere at rates determined by the stage of development.
