Molecular Partners signs US$420 million contract on antibody mimetic with Allergan
Zurich/Schlieren – Swiss Molecular Partners AG has bagged a US$45 million upfront payment and the option for additional US$345 million milestones from Allergan Inc for an exclusive licence of its Phase 2 anti-VEGF antibody mimetic MP0112 for the treatment of retinal diseases. In addition, Molecular Partners could receive tiered double-digit royalties on any future sales of MP0112. Allergan gains exclusive global rights for MP0112 for ophthalmic indications of the so-called DARPin molecule. DARPins are temperature stable, 14KDa scaffolds of 2-4 domains of the ankyrin protein motif that mimic the antigen binding capacities of antibody drugs while offering advantages of smaller molecules. Data on MP0112 from two separate phase I/IIa trials in wet age-related macular degeneration (wetAMD) and diabetic macular edema (DME) suggest that MP0112 is well-tolerated and has a potentially long lasting effect on vision gain after one single injection. In the studies, for most patients in the cohorts treated with the higher dose of the investigational compound, the potential beneficial effect on visual acuity lasted for approximately 16 weeks.