Xenova Group plc: Development and Licence Agreement with Genentech Inc for Novel Drugs in Immune Inf
Slough, UK, 23 April, 2002 - Xenova Group plc today announces that it has signed an exclusive development and licence agreement with South San Francisco-based Genentech Inc worth up to US$63m plus royalties. The agreement provides Genentech with worldwide rights to develop and market products primarily targeting disorders of the immune system based on Xenova's OX40 receptor protein and anti-OX40 Ligand antibody programmes.
Genentech will pay Xenova licence fees of up to US$5m (£3.4m) over the first year of the collaboration. In addition, Genentech will pay Xenova up to US$58m (£39.7m) in milestones assuming successful development and commercialisation of a product. Significant tiered royalties, depending on the level of sales, are also receivable by Xenova.
Genentech has also acquired an option, but not an obligation, to develop a second product. Should a second product be developed and commercialised, further milestone payments and royalties would apply.
Xenova will transfer to Genentech responsibility for the further development of the relevant programmes, including preclinical and clinical trials, all regulatory filings and the manufacture and sale of any products arising from the agreement worldwide. Genentech will fund all future development activities within the scope of the agreement.
Xenova retains for its proprietary development and commercialisation in oncology and other applications all rights to OX40 Ligand and stimulatory anti-OX40 antibodies. Xenova's OX40 platform technology is part of the portfolio of pre-clinical research programmes acquired through its merger with Cantab Pharmaceuticals plc in 2001.
OX40 is a platform technology capable of producing several therapeutic solutions. OX40 and OX40 Ligand are a pair of interacting cell-surface proteins which are important for the induction and regulation of immunity. The therapeutic potential of these cell-surface proteins lies in their ability to modulate the immune system. Modulation of the immune system has the potential to be of benefit in a wide range of diseases including inflammatory and autoimmune disease, infectious diseases and cancer. Xenova is the holder of exclusive licences to several patents relating to the OX40 platform.
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
Most read news
More news from our other portals
See the theme worlds for related content
Topic world Antibodies
Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous
Topic world Antibodies
Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous
