Archemix signs licensing agreement with Ribomic

Under the terms of the agreement, Archemix will receive an upfront payment of $6 million. Ribomic has the option, upon payment of a further fee, to convert the licenses from nonexclusive to exclusive on a target-by-target basis.

When the option is exercised, Archemix is eligible to receive milestone payments and a royalty on any marketed products developed under the agreement. Total milestone payments for the products combined could exceed $200 million. Other financial and business terms were not disclosed.

According to Archemix, the collaboration joins the interests of both the companies in focusing on the development of aptamer therapeutics. Archemix said that it has a broad patent portfolio of fundamental patents for aptamer therapeutics, and that a component of the company’s business strategy is to license its intellectual property to third parties, like Ribomic, to develop their own aptamer product candidates.

Michi Nishiyama, president and CEO of Ribomic, said: “This deal combined with Ribomic’s proprietary skills will substantially enhance the chances of brining novel aptamer therapeutics into reality. It should be good news to many people who are suffering from diseases that have no effective treatment at present.”