DOW JONES NEWSWIRES
Novo Nordisk said Tuesday it has signed a deal with ZymoGenetics
where it will in-license a fully-human anti-IL21 monoclonal
antibody (IL-21 mAb) developed by ZymoGenetics, as well as broad
intellectual property rights covering IL-21 mAb and the development
of other IL-21 antibodies.
MAIN FACTS:
-Novo Nordisk has agreed to pay ZymoGenetics an initial upfront
cash payment of $24M.
-As the development programme of the IL-21 mAb advances,
ZymoGenetics may receive further milestones from Novo Nordisk of up
to $157.5M over the term of the agreement.
-Milestones include a $1.5M milestone payment upon filing an
investigational new drug application and a $8.5M milestone payment
at the start of phase 1 studies with the mAb, plus royalties on net
sales.
-ZymoGenetics also has a right to co-promote the IL-21 mAb
product in the US if the company contributes to phase 3 clinical
development costs.
-The IL-21 mAb is a pre-IND candidate for the treatment of
autoimmune and inflammatory diseases.
-Novo Nordisk inlicensed intellectual property rights to IL-21
antibodies outside North America in 2001 and now has worldwide
rights.
-"Novo Nordisk is currently building a pipeline of products to
treat autoimmune and inflammatory diseases such as rheumatoid
arthritis, lupus and inflammatory bowel disease," says Mads
Krogsgaard Thomsen, executive vice president and chief science
officer of Novo Nordisk.
-"It was important for us to secure the worldwide rights to the
IL-21 mAb project as well as worldwide patent rights to IL-21
antibodies, and we look forward to initiating a phase 1 trial with
this IL-21 mAb in 2010."
-As part of the agreement, ZymoGenetics retains the option to
fund a portion of phase 3 clinical development costs in exchange
for an increased royalty rate on US sales and US co-promotion
rights.
-If ZymoGenetics exercises the option, it would pay a fixed fee
of $10M together with 15% of the costs of phase 3 clinical trials,
and royalties on US sales would increase from single to double
digits.
-By Stockholm Bureau, Dow Jones Newswires; +46-8-5451-3090;
djnews.stockholm@dowjones.com