CSL (ASX:CSL) has entered an exclusive research collaboration and worldwide license agreement to develop and commercialise Fc multimer proteins, including Momenta’s M230, a selective immunomodulator of Fc receptors, which is expected to enter the clinic in 2017.
Momenta will receive a US$50 million upfront license fee from CSL and is eligible to receive future milestone and royalty payments for M230 of up to US$550 million . In addition to advancing M230, CSL and Momenta intend to enter into a research collaboration to develop additional Fc multimer proteins that may originate from Momenta’s or CSL’s research.
“This collaboration and license agreement with CSL validates our belief that M230 is an exciting recombinant product candidate for potential use in autoimmune indications. It was developed using our proprietary Fc biology platform and understanding of how intravenous immunoglobulin (IVIg) works in autoimmune diseases,” said Craig Wheeler, president and CEO of Momenta. “As the global leader in immunoglobulin (Ig) therapy, CSL is the ideal development and commercialisation partner for us in the area of Fc biology given their expertise in developing plasma-derived medicines and focus on creating disruptive recombinant products in the autoimmune space.”
“We are delighted to announce this collaboration with Momenta, who are leaders in the Fc biology space,” said CSL CEO and managing director Paul Perreault. “M230 is a very exciting prospect and offers CSL the potential to further grow and expand our long-term global leadership in helping those patients with autoimmune diseases that are treated with immunoglobulins.”
The companies said they expect to close the transaction in the first quarter of 2017, subject to customary closing conditions including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.