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news.Predix Pharmaceuticals has entered into an exclusive collaboration and licensing agreement with biotech heavyweight Amgen for the development of novel, orally available S1P1 modulators for the treatment of multiple autoimmune diseases.
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Under the terms of the agreement, Predix and Amgen will collaborate on the development of existing Predix preclinical compounds and new S1P1 modulators. Amgen will be responsible for clinical development and commercialization of the product candidate(s).
Predix will receive an upfront payment of $20 million. Additionally, if certain clinical, regulatory and sales milestones are achieved, Predix can earn up to an additional $287.5 million in milestone payments.
Under the agreement, Predix will have the opportunity to receive potential double-digit royalties on future sales of products resulting from this collaboration and will have the option to promote a product resulting from this collaboration to specialty physicians in the US for a selected indication.
“This collaboration provides Predix with the option to transform into a fully integrated pharmaceutical company by exercising our co-promote option with Amgen,” stated Chen Schor, chief business officer of Predix. “This deal comes as we are in the process of finalizing our merger with Epix and will further enable the combined company to pursue this research program along with our other development programs.”