ThromboGenics and BioInvent sign licensing agreement with Roche

Under the terms of the agreement, effective June 17, 2008, Roche will pay ThromboGenics and BioInvent an upfront payment of E50 million. In addition, ThromboGenics and BioInvent could potentially receive up to E450 million over the term of the collaboration based on the successful completion of a series of development and commercial milestones for multiple indications, as well as double digit royalties on potential product sales, including any backup antibodies based on inhibition of placental growth factor (PlGF).

ThromboGenics, which discovered TB-403, will receive 60% and BioInvent 40% of the revenue from the deal. Roche will have a worldwide, exclusive license to develop and commercialize TB-403. ThromboGenics and BioInvent will retain co-promotion rights for the product in the Benelux, Baltic and Nordic regions.

ThromboGenics and BioInvent are responsible for any remaining costs associated with the recently completed Phase Ia trial in healthy volunteers. Roche will assume responsibility for all future development costs for this novel therapy, including the costs of the pending Phase Ib trial in patients to be run by ThromboGenics and BioInvent.

ThromboGenics and BioInvent in conjunction with Roche will form a joint steering committee to oversee R&D activities. In addition, Roche will also provide funding to ThromboGenics and BioInvent for research on noncancer indications and supply of clinical material until transfer of manufacturing.