In a multi-product deal potentially worth over $75 million, FivePrime will receive an upfront fee and research support, and Boehringer Ingelheim has exclusive worldwide rights to develop and commercialize products and targets discovered in exchange for future milestones and royalties.
The basis for the collaboration is FivePrime’s comprehensive, rapid protein discovery system. FivePrime’s protein screening library contains essentially all human secreted proteins and their receptors, including many that are unavailable in public collections.
“We believe that the combined capabilities of FivePrime and Boehringer Ingelheim will offer new opportunities to discover important disease targets and develop novel drug candidates,” said Mikael Dolsten, executive vice president of pharma research at Boehringer Ingelheim.
FivePrime is a privately-held protein therapeutics discovery and development company located in San Francisco. The company is applying its high throughput biologics discovery system in the areas of oncology, metabolic disease, immunology and regenerative medicine, with lead proteins in pre-clinical development to treat cancer and type II diabetes.