Success fee to Bioinvent and partner

The cancer collaboration started last year. After successful technology transfer the two partner companies now receives 5 million euro from pharma giant Roche.
Bioinvent International and Thrombogenics have received a milestone payment of EUR 5 million, approximately SEK 54 million. The success fee is paid by the global pharmaceutical company Roche under the terms of their strategic alliance for the novel anti-cancer antibody TB-403. The payment is a reward for successful transfer and implementation of technology and process development, within the on-going clinical development program of the oncology candidate.

Bioinvent and Thrombogenics entered the strategic alliance with Roche in June 2008, when Roche paid EUR 50 million upfront to Bioinvent and Thrombogenics. The whole deal has a potential worth of up to EUR 450 million, depending on a series of pre-defined development and commercial milestones, plus the chance of future double digit royalties. Thrombogenics discovered the compound, and thus earns 60 per cent of the net.

The clinical program is now in Phase Ib. According to the agreement, Roche covers all development costs, including the clinical studies currently run by Bioinvent and Thrombogenics.
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