Trillium and Biogen Idec Enter Into Global License Agreement
Under the terms of the agreement, TTI will receive an upfront payment and is eligible to receive milestone payments based on achievements of specified clinical, regulatory and commercial accomplishments. TTI will also receive royalties on global product sales. No other financial terms were disclosed. Biogen Idec will be solely responsible for clinical development, regulatory approvals, manufacturing and commercialization.
"Trillium's strong immunology foundation and its close connection toToronto'sworld class immunology research community, has allowed it to build a suite of exciting biologies opportunities in the immunoregulatory field", said Dr. Michael Moore, Trillium's Chairman. "We look forward to concluding additional partnerships later in the year, particularly around our non-core assets."
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