The collaboration aims to establish integrin peptide therapy as the first-in-class treatment that targets integrin with an oligopeptide to improve the quality of life for patients with risk of blindness from vascular eye diseases across the world.
Allegro Ophthalmics chief operating officer Marc Kirshbaum said, "In addition to validating the potential of Integrin Peptide Therapy as an additional treatment option for millions of patients at risk of blindness, this partnership provides Allegro with the capital required to significantly progress its clinical program across multiple indications and phases in the United States."
The deal allows Senju to acquire the rights to co-develop and market Allegro’s Integrin Peptide Therapy in Japan as an intravitreal injection for vascular eye diseases.
Allegro will receive upfront license fee, additional development and sales milestone fees, and a percentage royalty on net sales.
Senju Pharmaceutical executive vice president Shuhei Yoshida said, "We believe that Allegro’s Integrin Peptide Therapy shows great promise as a first-in-class treatment for Wet AMD, DME, and other vascular eye indications, and we are eager to begin the process for regulatory approval in Japan."
Summit Pharmaceuticals International, a subsidiary of Sumitomo, advised Allegro on the transaction.