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news.Trillium Therapeutics (TTI) has entered into a definitive license agreement with Biogen, granting the latter exclusive worldwide rights to one of Trillium's development programs.
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As per the agreement, TTI is expected to receive an upfront payment. Moreover, it is eligible to receive milestone payments based on achievements of specified clinical, regulatory and commercial accomplishments.
Additionally, TTI is also expected to receive royalties on global product sales. No other financial terms were disclosed. Biogen Idec will be solely responsible for clinical development, regulatory approvals, manufacturing and commercialisation.
Michael Moore, chairman of Trillium, said: “Trillium’s strong immunology foundation and its close connection to Toronto’s world class immunology research community, has allowed it to build a suite of exciting biologies opportunities in the immunoregulatory field. We look forward to concluding additional partnerships later in the year, particularly around our non-core assets.”