Molecular Partners AG inked a collaborative research and license agreement with Centocor Research & Development, Inc for developing DARPins (Designed Ankyrin Repeat Proteins), a novel class of therapeutic proteins to treat inflammatory diseases.
Under the terms of the agreement, Centocor will have exclusive worldwide rights to develop and commercialise products discovered during the research term in exchange for future milestones.
On its part, Molecular Partners is entitled to receive royalty payments on net sales of any product from this collaboration. The milestone and royalty payments compare to those of recent agreements in the field. Further details of the agreement have not been disclosed.
Under the collaboration, Molecular Partners will apply its proprietary DARPin technology for the identification of DARPins to two undisclosed targets. Centocor will perform the preclinical and clinical development as well as commercialisation of resulting products. Molecular Partners will receive an upfront payment of $5 million, additional research funding and license fees. Further, Molecular Partners will receive FTE payments for research done under the agreement.