Peregrine and Affitech have entered into a licensing agreement for antibody therapeutic rights, under the Peregrine’s preclinical anti-VEGF (Vascular Endothelial Growth Factor) antibody program.
As per terms of the agreement, Affitech will license exclusive worldwide rights to develop and commercialize products under Peregrine’s selective anti-VEGF intellectual property portfolio, including the fully human antibody r84. Affitech will be responsible for future preclinical and clinical development and product commercialization.
Additionally, Peregrine will receive an upfront payment, research fees and future milestone payments. Peregrine will also receive royalties on any future sales and a share of sublicensing revenues.
Achim Kaufhold, CEO of Affitech, said: Using advanced phage display technologies, Affitech successfully identified fully human, potent and selective anti-VEGF antibodies as part of a previous research and development collaboration with Peregrine. As a result of the recently completed reverse acquisition of Pharmexa, Affitech has now added product development expertise to its drug discovery capabilities. We are therefore delighted now to have acquired the exclusive worldwide development and commercialization rights for this exciting program.