The payment was triggered by the successful transfer and implementation of technology and process development.
ThromboGenics and BioInvent received a technology transfer success fee of €5 million, or $6.5 million, from Roche. Payment is as per an alliance between the firms covering anticancer antibody, TB-403.
The TB-403 strategic alliance with Roche was signed in June 2008. ThromboGenics and BioInvent received E50 million at the time and could earn up to E450 million following completion of a series of development and commercial milestones.
Additionally Roche will pay double-digit royalties on future sales. ThromboGenics, which discovered TB-403, receives 60% and BioInvent 40% of the revenue from the deal.
TB-403 is an anti-PIGF humanized mAb that blocks the formation of the new blood vessels required by solid tumors to support growth. PlGF is a homologue of VEGF, and clinical evidence suggests that it plays a role in the angiogenesis of malignant tissue and does not affect normal tissue angiogenesis.
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