Agreements

Date: 2018-09-18

Type of information: Termination of an agreement

Compound: Jetrea® (ocriplasmin)

Company: Thrombogenics (Belgium) Alcon (USA -TX), a Novartis subsidiary (Switzerland)

Therapeutic area: Ophtalmological diseases

Type agreement: commercialisation

Action mechanism:

protein. Ocriplasmin is a truncated form of the human serine protease plasmin that retains its enzymatic properties. This small molecule has been designed specifically for use in the eye. It is believed to primarily target the fibronectin, laminin, and type IV collagen fibers that adhere the vitreous to the retina.
Jetrea® is the first and only approved pharmacological treatment for symptomatic vitreomacular adhesion (VMA) in the US and vitreomacular traction (VMT) in Europe and elsewhere in the world. First introduced in 2013, Jetrea® has been approved in 54 countries worldwide, with nearly 30,000 patients being treated in about 20 countries.

Disease: symptomatic vitreomacular adhesion

Details:

• On March 16, 2012, ThromboGenics has entered into an agreement with Alcon (a division of Novartis), the global leader in eye care, for the commercialization of ocriplasmin in all markets outside the U.S. As a result of this important strategic deal, ThromboGenics will concentrate on commercializing ocriplasmin in the U.S. where it plans to build its commercial and medical organization to support the product’s anticipated launch within the next 12 months. Under the agreement ThromboGenics will have a strategic and focused operational role in the commercialization of ocriplasmin in the five largest European markets, enabling it to build the foundation for an expanding ophthalmology franchise. In addition to the commercial introduction of ocriplasmin in markets outside the U.S., the agreement specifies that Alcon and ThromboGenics will work together, and share the costs, to further develop new clinical applications of the product that the companies will introduce in their respective territories. Alcon plans to introduce ocriplasmin in more than 40 countries worldwide. ThromboGenics retains all U.S. rights to ocriplasmin and will commercialize the product itself in the U.S.

Financial terms:

Under the terms of the agreement with Alcon, ThromboGenics will receive an up-front payment of €75 million. The Company is also entitled to a further €90 million in potential near-term milestone payments. Additional milestones bring the potential total of up-fronts and milestones to €375 million. In addition, ThromboGenics will receive royalties on net sales of ocriplasmin that are commensurate with a product that has successfully completed Phase III development and that has been filed for regulatory approval.

Latest news:

• On September 18, 2017, ThromboGenics announced that it will regain full global rights to Jetrea® from Alcon, a Novartis company, based on a mutual agreement that the unique characteristics of Jetrea® make Thrombogenics a better fit for building a sustainable long-term niche business.
Under the terms of the agreement, Alcon and Novartis will work closely with ThromboGenics to ensure continuity and access to Jetrea® for existing and future customers.
Under the terms of the agreement, ThromboGenics receives a cash amount of €53.7 million and a forthcoming equity investment of €10 million in ThromboGenics capital. Following the agreements announced now, ThromboGenics will have over €120 million in cash.