Date: 2014-04-21
Type of information: Exercise of an option agreement
Compound: fully-recombinant Factor VIII products
Company: BiogenIdec (USA - MA) Amunix (USA - CA)
Therapeutic area: Hematologic diseases - Genetic diseases - Rare diseases
Type agreement: licensing
Action mechanism:
Disease: hemophilia
Details: * On April 21, 2014, Amunix Operating announced that Biogen Idec has exercised its option to enter into an exclusive, worldwide license agreement to research and develop novel, fully-recombinant Factor VIII products with improved therapeutic properties. In March 2011, Amunix and Biogen Idec initiated a Research and Option Agreement under which both companies would collaborate to combine Amunix’s expertise in protein half-life extension and its proprietary XTEN technology with Biogen Idec’s expertise in both hemophilia and engineering long-lasting coagulation factors. Under the license agreement announced today, Biogen Idec triggered its option for XTENylated Factor VIII products. Biogen Idec will be responsible for developing, manufacturing and commercializing therapeutic product candidates resulting from the collaboration.
Financial terms: Under the terms of the option agreement, Amunix will receive an upfront $1 million payment and will also be eligible to receive up to $38 million in clinical and commercial milestone payments. In addition, royalties will be paid on commercial sales by Biogen Idec for Factor VIII products incorporating Amunix proprietary XTEN technology.
Latest news: * On June 13, 2014, Swedish Orphan Biovitrum received a data package from Biogen Idec regarding a preclinical Hemophilia A program based on Amunix\'s proprietary XTEN technology. Amunix and Biogen Idec signed a worldwide license agreement in April 2014. Under the terms of Sobi and Biogen Idec\'s agreement, Sobi has the right to elect to obtain an option to add potential additional Factor VIII:Fc Constructs to the collaboration. Sobi has 120 days to review the preclinincal data, and to determine whether to elect to obtain such option under the collaboration. If Sobi elects to acquire its option, the company will be required to make a payment to Biogen Idec.
Biogen Idec and Sobi are collaborators in the development and commercialisation of Eloctate and Alprolix for haemophilia A and B. Biogen Idec leads development, has manufacturing rights, and has commercialisation rights in North America and all other regions in the world excluding the Sobi territory. Sobi has the right to opt in to assume final development and commercialisation in Europe, including Russia, the Middle East and Northern Africa.
