BusinessBelgium

ThromboGenics in eye drug deal with Novartis unit Alcon

19.03.2012 - Biopharmaceutical company ThromboGenics has entered into an agreement with Alcon Inc., a division of Novartis for the commercialisation of its product ocriplasmin in all markets outside the U.S.

ThromboGenics said it will concentrate on commercialising ocriplasmin in the U.S., where it plans to build its commercial and medical organisation to support the anticipated launch of the eye drug within the next 12 months. The truncated form of the human serine protease plasmin is under review in Europe for the indication symptomatic vitreomacular adhesion. ThromboGenics will receive an up-front payment of €75m and is eligible for a further €90m in potential near-term milestone payments. Additional milestones would bring the potential total of up-fronts and milestones to €375m according to ThromboGenics. The Belgian company will have a "strategic and focused operational role" in the commercialisation of the product in the five largest European markets. The partners will also co-develop ocriplasmin in additional indications, with both companies responsible for development costs. Details were not disclosed. Ocriplasmin is Thrombogenics' lead product. It represents an injectable recombinant microplasmin, a truncated form of the natural human protein plasmin. The drug has successfully completed two Phase III clinical trials for the pharmacological treatment of the eye disease symptomatic vitreomacular adhesion.

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No liability assumed, Date: 16.04.2014