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news.Molecular Partners has licensed MP0112 to Allergan, under an agreement signed between the two parties.
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MP0112 is a phase II proprietary therapeutic DARPin protein targeting VEGF under experiment for the treatment of retinal diseases.
Under the pact, Molecular Partners and Allergan will jointly work on Phase IIb development of the drug.
The tie up further allows Allergan to conduct Phase III development and commercialization activities for MP0112.
As per the agreement, Allergan is responsible to pay a sum of $45m as an upfront payment to Molecular Partners.
In addition, Allergan will also pay up to $375m upon meeting certain development, regulatory and sales milestones to Molecular Partners.
Allergan chief scientific officer and executive vice president Scott Whitcup said the goal of this program is to develop a potentially more effective treatment for diseases like neovascular age-related macular degeneration with the possibility for less frequent intravitreal injections.
Molecular Partners CEO Christian Zahnd said this is a transformational deal for the company, and Allergan is the ideal partner for MP0112 to build the most value out of their lead product.