Cooley LLP announced that it represented Switzerland-based Molecular Partners as the company expanded its existing collaboration relationship with Allergan. The companies entered into two separate agreements to discover, develop and commercialize proprietary therapeutic DARPin® products for the treatment of serious ophthalmic diseases.
Molecular Partners will receive a total upfront payment of $62.5 million and is eligible to receive additional success-based payments, including up to $1.4 billion in aggregate development, regulatory and sales milestones, and tiered royalties up into the low double-digits for future product sales.
The first agreement is an exclusive license agreement for the design, development and commercialization of a potent dual anti-VEGF-A/PDGF-B DARPin® (“MP0260”) and its corresponding backups for the treatment of age-related macular degeneration and related conditions. The second agreement is an exclusive discovery alliance agreement under which the parties will collaborate to design and develop DARPins against multiple targets that are implicated in causing serious diseases of the eye. The complete announcement can be found here.
The Cooley team representing Molecular Partners included partner Ken Krisko, and associates Noelle Sitthikul and Rena Kaminsky.
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