20.03.2013 - Belgian UCB S.A. and US-based biologics specialist Five Prime Therapeutics have entered into a drug discovery collaboration.
The companies will screen for new targets and therapeutics in the areas of fibrosis-related inflammatory diseases and central nervous system (CNS) disorders. Under the terms of the agreement, UCB will gain exclusive access to FivePrime's library of 5.600 functionally secreted proteins and receptor proteins in up to five programmes to identify new targets and disease mechanisms.
FivePrime will receive US$16m for providing its library and screening platform, a combination of an upfront fee, technology access fees, research funding and success-based research milestone payments. UCB has an option to license exclusively rights to selected protein targets discovered by FivePrime within the collaboration. In addition, FivePrime would be eligible for potential option exercise fees and product-related milestone payments, as well as tiered royalties on global net sales on future products related to each licensed protein.
Further financial details are subject to a confidentially agreement.
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