ThromboGenics Sells Commercialization Rights for Ocriplasmin outside the United States to Alcon
In a deal worth up to $490 million, ThromboGenics NV announced that it has entered into an agreement with Alcon Laboratories Inc., for exclusive commercialization rights of ocriplasmin (microplasmin) in all markets outside the United States.
ThromboGenics will continue to commercialize ocriplasmin in the United States, where it plans to build its commercial and medical organization to support the product’s anticipated launch within the next 12 months, according to a company news release.
Under the terms of the agreement, ThromboGenics will receive an upfront payment of about $100 million. The company is also entitled to a further $117 million in potential near-term milestone payments. Additional milestones bring the potential total of up-fronts and milestones to about $490 million, according to the companies. ThromboGenics will also receive royalties on net sales of ocriplasmin.
ThromboGenics will have an operational role in the commercialization of ocriplasmin in the 5 largest European markets. The agreement specifies that Alcon, a division of Novartis, and ThromboGenics will work together, and share the costs, to further develop new clinical applications for ocriplasmin that the companies will introduce in their respective territories.
In a conference call with reporters, ThromboGenics Chief Executive Officer Patrik de Haes, MD, spoke about why Alcon was a good fit to market ocriplasmin.
“They plan to commercialize ocriplasmin in over 40 countries. It’s clear that they have extensive commercial and medical expertise, and very strong legs with the retina community on a global basis. They’re very committed to work very closely with ThromboGenics to realize the full potential of ociplasmin,” he said.
ThromboGenics also announced that it has raised about $103.6 million to fund the launch and commercialization of ocriplasmin in the United States. ThromboGenics issued more than 3 million new shares to raise the money, which will also fund the clinical development of ocriplasmin for additional indications on a 50/50 basis with Alcon.
In February, the US Food and Drug Administration granted ThromboGenics priority review of ocriplasmin for the treatment of symptomatic vitreomacular adhesion (VMA), including macular hole. If approved, it would be the first pharmacologic option to treat patients with symptomatic VMA. Ocriplasmin is also under review by the European Medicines Agency for the same indication.
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