Date: 2011-06-21
Type of information: Development agreement
Compound: BT-061
Company: Abbott (USA) Biotest (Germany)
Therapeutic area: Autoimmune diseases – Dermatological diseases - Inflammatory diseases - Rheumatic diseases
Type agreement: development
commercialisation
Action mechanism:
Disease: rheumatoid arthritis -psoriasis
Details: Abbott and Biotest AG have announced a global agreement to develop and commercialize BT-061, a novel anti-CD4 antibody for the treatment of rheumatoid arthritis and psoriasis. BT-061 is currently in Phase II clinical trials for rheumatoid arthritis and psoriasis, with preclinical studies underway to study its potential use in other immune-related diseases.
Under the terms of the agreement, Abbott and Biotest will co-promote BT-061 in the five major European markets (Germany, France, United Kingdom, Italy and Spain) and Abbott will have exclusive global rights to commercialize BT-061 outside those countries.
Financial terms: Biotest will receive an upfront fee of $85MM. Pending achievement of certain development, regulatory, commercial and sales-based milestones, Biotest would be eligible to receive additional milestone payments from Abbott, potentially amounting to a total of $395MM, and royalties. Biotest will be responsible for manufacturing the initial clinical supply of BT-061 and the companies will share responsibility for commercial production.
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