Roche and Upsher-Smith Laboratories Inc., through its wholly-owned U.K. subsidiary Proximagen Ltd., announced a worldwide agreement for the further development of a novel, oral small molecule inhibitor of Vascular Adhesion Protein 1, a cell-adhesion molecule that may be effective in the treatment of inflammatory disease. The VAP-1 inhibitor is currently in phase II clinical development.
Under the terms of the agreement, Roche is granted a worldwide exclusive license to develop and commercialize the compound. In a novel collaboration model, Proximagen and Roche will conduct additional phase II studies to further define the therapeutic potential of the VAP-1 inhibitor. Based on these data, Roche will assume responsibility for late stage development and worldwide commercialization.
Proximagen will receive an upfront payment, along with downstream development, regulatory and sales milestones. In addition, Proximagen will also receive tiered royalties on net sales of a potential future product containing the molecule.
