- June 7, 2018
- Posted by: PharmaScroll
- Category:
Oxford BioMedica plc announced that it has entered into an exclusive worldwide licensing agreement with Axovant Sciences to develop and commercialize OXB-102, a gene therapy developed by Oxford BioMedica for Parkinson’s disease utilizing the LentiVector platform.
Under the terms of the agreement, Oxford BioMedica will receive a $30 million upfront payment (approximately £22 million) including $5 million as pre-payment for manufacturing activities related to OXB-102, now renamed, AXO-Lenti-PD. Oxford BioMedica is also eligible to receive $55 million upon the achievement of specified development milestones and $757.5 million upon the achievement of specified regulatory and sales milestones, with 7% to 10% tiered royalties on net sales of AXO-Lenti-PD.
Axovant Sciences will fund all clinical development costs and manufacturing process development and scale-up activities for AXO-Lenti-PD. The agreement also allows for both parties to put in place a clinical and commercial supply agreement for GMP manufacturing of AXO-Lenti-PD at Oxford BioMedica.
Axovant Sciences expects to initiate a Phase I/II dose escalation study of AXO-Lenti-PD in patients with advanced Parkinson’s disease by the end of 2018.
John Dawson, Chief Executive Officer of Oxford BioMedica, said: “We are delighted to sign this significant agreement which not only underlines our LentiVector enabled platform and product development strategy but further demonstrates Oxford BioMedica’s ability to build multiple partnerships with leaders in their respective therapeutic fields. This agreement with Axovant also successfully demonstrates Oxford BioMedica’s pre-stated strategy to externalize product development beyond the end of the pre-clinical phase.
“Axovant’s expertise and focus on neurological disorders, which includes Parkinson’s disease, makes them an ideal development and commercialization partner for this programme. Coupled with strong support from parent company Roivant, we believe Axovant is perfectly positioned to bring AXO-Lenti-PD to the market as quickly as possible to treat patients with Parkinson’s, a disease which still has a high unmet need.”
Commenting on the deal, Pavan Cheruvu, Chief Executive Officer of Axovant Sciences, said: “Axovant, together with our parent company Roivant, remains committed to developing innovative treatments for serious degenerative conditions such as Parkinson’s disease, and we are excited to partner with Oxford BioMedica, a recognised global leader in cell and gene therapy. OXB-102 is a potentially best-in-class gene therapy with the potential to transform Parkinson’s disease treatment. This is an area of significant unmet medical need and a major market opportunity. Advancing this high-quality candidate is a key priority for the team at Axovant and we very much look forward to working with Oxford BioMedica.”
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News Source: Oxford BioMedica Website
Image Source: http://nordiclifescience.org/enzymatica-signs-agreement-with-actavis/