Molecular Partners’ collaboration partner Allergan exercises the third option for a DARPin® product candidate in ophthalmology
Molecular Partners AG (ticker: MOLN), a clinical-stage biopharmaceutical company developing a new class of drugs known as DARPin® therapies, today announced that Allergan has exercised the third option to develop and commercialize DARPin® product candidates from its 2012 discovery alliance agreement with Molecular Partners. Upon the exercise of this option, Molecular Partners granted Allergan an exclusive license to the selected multi-DARPin® product candidates for use in ophthalmology.
Building on abicipar with phase 3 wet AMD topline data expected in H2 2018, these novel multi-DARPin® product candidates further expand Molecular Partners’ and Allergan’s DARPin® pipeline in ophthalmic diseases with high unmet medical need.
All amounts payable under the option exercises are included in the aggregate milestone payments and the tiered royalty payments previously disclosed in the company’s July 21, 2015 press release. For the exercise of the third option, Molecular Partners is entitled to certain success based development, regulatory and sales milestone payments aggregating up to USD 320 million, as well as tiered royalty payments (up to low double-digit percentage range) on any future product sales. Allergan will be responsible for all future development costs.