Boehringer Ingelheim, Micromet Sign Collaboration Agreement
Under the terms of the agreement Boehringer Ingelheim will pay Micromet an upfront cash payment of E5m ($6.6m). Micromet is eligible to receive development and regulatory milestone payments of up to E50m ($66m) and tiered low double-digit royalties on product sales outside the US.
In the US, Micromet and Boehringer Ingelheim will jointly co-promote the BiTE antibody with commercial terms commensurate with a profit split.
Micromet and Boehringer Ingelheim will collaborate on the development of the BiTE antibody. Micromet is responsible for discovery of the BiTE antibody and will jointly conduct with Boehringer Ingelheim further pre-clinical studies.
Boehringer Ingelheim is responsible for all manufacturing activities, clinical development and worldwide commercialization subject to Micromet's co-promotion right in the US. Micromet will bear the costs up to a pre-defined amount for its preclinical activities.
During commercialization Micromet will solely bear the costs for its sales force in the US. All other costs for research, development, manufacturing and commercialization of the BiTE antibody will be borne by Boehringer Ingelheim.
Christian Itin, president and CEO of Micromet, said: “Multiple myeloma will be an indication of focus for Micromet and we are very pleased to collaborate with Boehringer Ingelheim, an industry leader with a proven track record of successful partnerships.”
Wolfgang Rettig, head of corporate research at Boehringer Ingelheim, said: “We recognize the advantage of combining Micromet's BiTE antibody platform with our target identification and development expertise and we believe that a BiTE antibody has the potential to address the significant unmet medical need of patients with multiple myeloma.”
How far this collaboration agreement will help both the firms?
Have your say and discuss with your peers on the InfoGrok community.
Participate by posting your comments now.