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news.ZymoGenetics, a developer of protein therapeutics, has acquired ex-North American rights to Interleukin 21 from Denmark-based healthcare company Novo Nordisk, resulting in ZymoGenetics owning worldwide rights to IL-21.
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Novo Nordisk has previously reached a corporate decision to exit the oncology therapeutic area, resulting in the suspension of all ongoing oncology programs.
Under the terms of the arrangement, Novo Nordisk agreed to license rest of world (ex-North American) development and commercialization rights for Interleukin 21 (IL-21) to ZymoGenetics in exchange for potential regulatory approval milestones and royalties related to the ex-North American territory.
In addition, upon licensing worldwide rights for IL-21 to a third party, Novo Nordisk would receive a portion of related licensing fees if a certain threshold level were exceeded.
Heather Franklin, senior vice president of business development of ZymoGenetics, said: Securing rest of world IL-21 rights supports our strategy of seeking a global partner for this oncology asset, and we’re pleased to have accomplished this without near-term cash outlays.
In the first half of 2009, we plan to present Phase II results in renal cell carcinoma and metastatic melanoma, which we believe will heighten partnering interest among oncology-focused companies.