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news.ThromboGenics, a biotechnology company, and BioInvent International, a biopharmaceutical company, have received a technology transfer success fee of E5 million from Roche under the terms of their strategic alliance for the novel anticancer antibody, TB-403.
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The payment has been triggered by the successful transfer and implementation of technology and process development to Roche in relation to the ongoing clinical development of TB-403.
The TB-403 strategic alliance with Roche was signed in June 2008. Under the terms of this ongoing agreement, ThromboGenics and BioInvent received an initial upfront payment of E50 million, with the potential of milestone payments of up to E450 million following completion of a series of development and commercial milestones, as well as double digit royalties on future sales. ThromboGenics, which discovered TB-403, receives 60% and BioInvent 40% of the revenue from the deal.
Under the terms of the agreement, Roche is responsible for all development costs for TB-403, including the completion of the Phase Ib trial currently being run by BioInvent and ThromboGenics.
Patrik Haes, CEO of ThromboGenics, said: We are looking forward to the results of the current Phase Ib clinical trial with TB-403, and in assisting Roche in paving the way for the broader clinical development program with this unique anticancer agent.