Under the agreement, BioGeneriX and Neose will enter into an initial three-month research period. Neose will receive a payment and supply of protein for research purposes.
During the research period, BioGenerix may choose to enter into a pre-negotiated research, license and option agreement under which Neose would receive additional upfront and research payments and could receive milestone payments totaling up to $61.5 million, as well as royalties on product sales.
Under the research, license and option agreement, BioGeneriX would have the right to an exclusive, worldwide license to use Neose’s GlycoPEGylation technology to develop and commercialize a next generation version of the undisclosed therapeutic protein.
This agreement expands the collaboration between the two companies to include a second BioGeneriX protein, following successful partnership efforts for a GlycoPEGylated version of granulocyte colony stimulating factor (G-CSF).
Neose is a biopharmaceutical company focused on improving protein therapeutics using its proprietary technologies.
Ratiopharm is Europe’s leading generics producer and the top selling and most commonly prescribed pharmaceutical brand in its home country of Germany.