TolerRx Inc has signed a collaboration agreement with Genentech Inc to develop and commercialize TRX1, TolerRx's lead product. In addition, TolerRx announced the initiation of a Phase I clinical trial of TRX1 in the United Kingdom.
Under the agreement, TolerRx will receive an upfront payment and equity investment totaling $6 million. The agreement also provides for TolerRx to receive development milestone payments as well as to receive royalty payments based on net sales of TRX1. In addition, TolerRx has the option to participate in a cost and profit sharing relationship in the United States.
TRX1 is directed at the CD4 antigen on T cells and has been designed and genetically modified to generate tolerogenic immune responses. In the Phase I clinical trial, the safety and pharmacokinetics of TRX1 is being evaluated in a single dose, dose escalating, placebo-controlled study.
"Genentech is the world leader in monoclonal antibody development and the ideal partner for us to bring this novel therapy to patients. The collaboration with Genentech and the initiation of the Phase I study are important milestones for TolerRx as we continue to research and develop therapies based on immunological tolerance," stated Douglas J. Ringler, President and Chief Executive Officer at TolerRx.