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news.Alba Therapeutics Corporation has entered into a strategic collaboration with Shire to jointly develop AT-1001, Alba's lead inhibitor of barrier dysfunction in various gastrointestinal disorders. Shire will receive rights to commercialize all forms of AT-1001 outside of the US and Japan. Alba will retain all commercialization rights in the US and Japan.
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Under the terms of the collaboration, Alba will receive an initial, non- refundable licensing payment of $25 million. Joint development costs toward global approval of AT-1001 will be shared 50/50 after the completion of two Phase II studies for Celiac disease. Alba is eligible to receive over $80 million if certain clinical, regulatory and launch milestones are met for certain gastrointestinal disorders (GI) indications.
Additional milestone payments totaling over $40 million per indication will also be payable to Alba if the collaboration is expanded beyond GI indications. Alba is also eligible to receive up to $220 million in sales-based milestones, as well as tiered royalties. Not including royalties and cost sharing, the deal is valued at over $325 million if all milestones are achieved.
Blake Paterson, Alba’s president and CEO, said: “We are pleased to enter into this partnership with Shire, which leverages the unique experience and expertise of both companies in developing therapies for GI disorders. The combination of Alba’s barrier function technology and autoimmune development capabilities with Shire’s proven track record in GI drug development and commercialization will greatly enhance our efforts to bring these novel therapies to patients.”