Idera Pharmaceuticals has granted Vivelix Pharmaceuticals exclusive worldwide rights to the nonmalignant gastrointestinal disorder candidate IMO-9200, under a licensing agreement that could generate up to $207.5 million-plus for Idera.
IMO-9200 is an orally delivered, synthetic oligonucleotide-based antagonist of Toll-like receptors (TLR) 7, 8, and 9. Last year, Idera said IMO-9200 showed positive safety and tolerability results in a Phase I clinical trial in healthy subjects.
Idera also presented preclinical data for IMO-9200 in models of inflammatory bowel disease at the 2015 Digestive Disease Week Conference in Washington, D.C. According to the company, IMO-9200 has shown activity in several preclinical studies of disorders characterized by acute and chronic inflammation in the gastrointestinal tract.
Vivelix agreed to pay Idera $15 million upfront, plus up to $140 million in payments tied to achieving development, regulatory, and sales milestones for IMO-9200. Vivelix also agreed to pay escalating royalties on global net sales of the compound ranging from the mid single-digits to low double-digits.
In addition, Vivelix agreed to pay development, regulatory sales, and milestone payments totaling up to $52.5 million toward potential backup compounds to IMO-9200—as well as escalating royalties ranging from the mid single-digits to low double-digits of global net sales.
Vivelix was founded earlier this year by seven former employees of Salix Pharmaceuticals, which was acquired by Valeant Pharmaceuticals International last year for about $11 billion.