Eleven Biotherapeutics granted Hoffmann-La Roche an exclusive, worldwide license to develop and commercialize EBI-031 and all other interleukin-6 (IL-6) antagonist antibody technology owned by Eleven. EBI-031 is a humanized monoclonal antibody that binds IL-6 and inhibits all known forms of IL-6 cytokine signaling, according to Eleven Biotherapeutics.
EBI-031 is currently in development for the treatment of ocular diseases. Eleven is entitled to receive $30 million in payments from Roche, including a $7.5 million upfront payment in connection with the license agreement, and a $22.5 million milestone payment based on the Investigational New Drug application for EBI-031 becoming effective.
Under the terms of the agreement, Eleven could receive up to an additional $240 million upon the achievement of certain future regulatory, development, and commercialization milestones. In addition, Eleven could be entitled to receive royalties for net sales of potential future products containing EBI-031 or any other potential future products containing other Eleven IL-6 compounds.
“With the completion of this licensing deal and the IND being effective, we look forward to the future clinical advancement of EBI-031 by Roche as they explore its potential use for ocular diseases, including diabetic macular edema,” said Abbie Celniker, Ph.D., president and CEO of Eleven Biotherapeutics.