Date: 2016-05-06
Type of information: Licensing agreement
Compound: clazakizumab
Company: Alder Biopharmaceuticals (USA - WA) Vitaeris (Canada)
Therapeutic area: Inflammatory diseases
Type agreement: licensing
Action mechanism: monoclonal antibody. Clazakizumab, a monoclonal antibody therapeutic candidate discovered by Alder, is designed to block interleukin-6 (IL-6), which plays a key role in the inflammatory cascade.
Disease: inflammatory diseases
Details: • On May 6, 2016, Alder BioPharmaceuticals, a clinical-stage biopharmaceutical company developing monoclonal antibody therapeutics, and Vitaeris, a newly formed company that will pursue innovative therapeutic indications in chronic inflammatory diseases, announced that Alder has licensed the exclusive worldwide rights to clazakizumab to Vitaeris.
Financial terms: In exchange for the rights to clazakizumab, Alder has received an equity stake in Vancouver, British Columbia, based Vitaeris and is eligible to receive royalties and certain other payments. In addition, Randall C. Schatzman, Ph.D., president and chief executive officer of Alder, has joined Vitaeris' board of directors. Specific financial and other terms of the transaction were not disclosed.
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