Date: 2016-05-25
Type of information: Product acquisition
Compound: BAFF/APRIL dual antagonist program
Company: Thunderbolt, a Vitesse Biologics company (USA - DE) Astellas Pharma (Japan)
Therapeutic area: Autoimmune diseases - Cancer - Oncology - Hematological diseases - Immunological diseases
Type agreement: product acquisition
Action mechanism:
Disease: B cell disorders including systemic lupus erythematosus
Details: * On May 25, 2016, Baxalta, Velocity Pharmaceutical Development and Astellas Pharma announced that Thunderbolt, a company established by Vitesse Biologics, acquired all rights to the Astellas BAFF/APRIL dual antagonist program through an asset purchase agreement. The BAFF/APRIL dual antagonists will be developed for B cell disorders including systemic lupus erythematosus.
Thunderbolt is the first company established by Vitesse Biologics, a unique collaboration model formed by Baxalta , Mayo Clinic and Velocity Pharmaceutical Development focused on the development of antibody and protein-based therapeutics in the areas of immunology, hematology and oncology. Baxalta , the Mayo Clinic , VPD and Astellas are all shareholders in Thunderbolt.
Baxalta , Mayo Clinic and Velocity Pharmaceutical Development will each contribute to the development costs associated with the program. Through Vitesse, Baxalta will provide global commercialization, antibody and protein development and manufacturing capabilities; through the Office of Translation to Practice, Mayo Clinic clinicians and researchers advise on selection of preclinical candidates, disease indications, and the design and conduct of Phase 1 clinical trials; and Velocity Pharmaceutical Development will be responsible for target identification, selection of early stage drug candidates, will lead the design and execution of pre-clinical testing and advise the early clinical protocols.
Financial terms:
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