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The TB-403 strategic alliance with Roche was signed in June 2008. Underthe terms of this ongoing agreement, ThromboGenics and BioInvent received aninitial upfront payment of EUR50 million, with the potential of milestonepayments of up to EUR450 million following completion of a series ofdevelopment and commercial milestones, as well as double digit royalties onfuture sales. ThromboGenics, which discovered TB-403, receives 60% andBioInvent 40% of the revenue from the deal.
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Under the terms of the agreement, Roche is responsible for alldevelopment costs for TB-403, including the completion of the Phase Ib trialcurrently being run by BioInvent and ThromboGenics.
TB-403 (anti-PlGF) is a humanized monoclonal antibody that blocks theformation of the new blood vessels required by solid tumours to supportgrowth. PlGF is a homologue of VEGF, and clinical evidence suggests that itplays a role in the angiogenesis of malignant tissue, and does not affectnormal tissue angiogenesis.
Patrik De Haes, CEO of ThromboGenics, commented, "We are very pleased tobe able to make this announcement today. The fact that we have been able toachieve the goal that has triggered this payment from Roche so quicklyhighlights the excellent working relationship that has developed between allparties in this important strategic alliance. We are looking forward to theresults of the current Phase Ib clinical trial with TB-403, and in assistingRoche in paving the way for the broader clinical development program withthis unique anti-cancer agent."
Svein Mathisen, CEO of BioInvent, said, "We are delighted to receive thesuccess fee associated with this important event in our key strategicalliance with Roche. A good momentum has been achieved in the collaboration,and the value of the program continues to be enhanced. TB-403 has thepotential to become a significant new treatment for cancer and we are pleasedto be supporting Roche in its progress towards commercialisation."
Legal disclaimer
This press release contains statements about the future, consisting ofsubjective assumptions and forecasts for future scenarios. Predictions forthe future only apply as of the date they are made and are, by their verynature, in the same way as research and development work in the biotechsegment, associated with risk and uncertainty. With this in mind, the actualoutcome may deviate significantly from the scenarios described in this pressrelease.
Notes to Editors:
About ThromboGenics
ThromboGenics is a biotechnology company focused on the discovery anddevelopment of biopharmaceuticals for the treatment of eye disease, vasculardisease and cancer. The Company's lead product Microplasmin is in Phase IIIclinical development for the non-surgical treatment of back of the eyediseases. Microplasmin is also being evaluated in Phase II clinicaldevelopment for additional vitreoretinal indications and as a potentialtherapy for stroke. ThromboGenics is also developing novel antibodytherapeutics in collaboration with BioInvent International; these includeTB-402 (Anti-Factor VIII), a long acting anti-coagulant, and TB-403(anti-PlGF) for cancer.
ThromboGenics has built strong links with the University of Leuven andthe Flanders Institute for Biotechnology (VIB) and has exclusive rights tocertain therapeutics developed at these institutions. ThromboGenics isheadquartered in Leuven, Belgium and has subsidiaries in Dublin, Ireland andNew York, U.S. The Company is listed on Eurolist by Euronext Brussels underthe symbol THR. More information is available at www.thrombogenics.com.
About BioInvent
BioInvent International AB, listed on the OMX Nordic Exchange Stockholm(BINV), is a research-based pharmaceutical company that focuses on developingantibody drugs. The Company is currently running innovative drug projectswithin the areas of thrombosis, cancer and atherosclerosis. The Company hassigned various strategic alliances around these product candidates and isdeveloping them in collaboration with partners including Genentech, Roche andThromboGenics.
These projects are based around a competitive and in substance patentedantibody development platform. The scope and strength of this platform isalso utilised by partners, such as ALK-Abello, Bayer HealthCare, ImmunoGen,OrbusNeich, Sanofi-Aventis, UCB and XOMA for antibody discovery. Moreinformation is available at http://www.bioinvent.com.
Information disclosed in this press release is provided herein pursuantto the Swedish Securities Markets Act and/or the Swedish FinancialInstruments Trading Act. The information was submitted for publication at8.00 a.m. CET, on 26 January, 2009.For further information, please contact: ThromboGenics NV Patrik De Haes Chief Executive Officer Tel: +32(0)16-75-13-10 E-mail: [email protected] Stuart Laermer Chief Business Officer Tel: +1-212-201-0920 E-mail: [email protected] Citigate Dewe Rogerson Amber Bielecka, David Dible, Nina Enegren Tel: +44(0)207-638-95-71 E-mail: [email protected] BioInvent International AB Svein Mathisen President & CEO Tel: +46(0)46-286-85-67 Mobile: +46(0)708-97-82-13 E-mail: [email protected] Cristina Glad Executive Vice President Tel: +46(0)46-286-85-51 Mobile: +46(0)708-16-85-70 E-mail: [email protected] College Hill (media enquiries) Holly Griffiths, Katja Stout, John McIntyre Tel: +44(0)20-7457-2020 E-mail: [email protected] ThromboGenics NV Gaston Geenslaan 1 B-3001 Leuven Belgium Tel: +32(0)16-75-13-10 http://www.thrombogenics.com BioInvent International AB (publ) Co. reg. No. 556537-7263 Address: Solvegatan 41 Mailing address: SE-223 70 LUND Tel: +46(0)46-286-85-50 [email protected] http://www.bioinvent.com
SOURCE ThromboGenics NV
