Roche, Eleven Biotherapeutics Form Antibody Licensing Deal
Roche has been granted an exclusive worldwide license by Eleven Biotherapeutics, a biopharmaceutical company based in Cambridge, Massachusetts, to develop and commercialize EBI-031, a humanized monoclonal antibody in development for treating ocular diseases, and all other interleukin-6 (IL-6) antagonist antibody technology owned by Eleven Biotherapeutics. Eleven Biotherapeutics is entitled to receive $30 million in payments from Roche, including a $7.5-million upfront payment and a $22.5-million milestone payment based on the investigational new drug application (IND) for EBI-031 becoming effective.
Under the agreement, Eleven could receive up to an additional $240 million related to future regulatory, development and commercialization milestones as well as royalties for net sales of potential future products containing EBI-031 or future products containing other Eleven Biotherapeutics IL-6 compounds.
Eleven Biotherapeutics filed an IND with the US Food and Drug Administration in June 2016 and received clearance in July 2016 to conduct clinical trials of EBI-031 in diabetic macular edema and uveitis.
Source: Eleven Biotherapeutics