AstraZeneca licenses VelocImmune technology

Regeneron Pharmaceuticals has announced that it has signed a non-exclusive licensing agreement with AstraZeneca to allow the company access to its VelocImmune technology in its research programmes for the discovery of human monoclonal antibodies.

An initial license fee of $20 million (10.2 million pounds) will be paid by AstraZeneca to Regeneron, with five additional payments of the same amount to be paid each year for five years, though the agreement may be terminated prematurely after the first three payments.

AstraZeneca, which will conduct its research involving VelocImmune at the UK-based Cambridge Antibody Technology, will also pay the company a royalty on any product sales following commercialisation of antibody products discovered using this technology.

The company has recently stated that it is attempting to build a biopharmaceutical capability, of which this project will form a constituent part.

George D Yancopoulousm, chief scientific officer of Regeneron, said: “VelocImmune is the centrepiece of Regeneron’s suite of technologies for the discovery and development of fully human antibodies.”

He added that the company is pleased that AstraZeneca has chosen the technology for its internal development programme for therapeutic antibodies.

AstaZeneca recently announced that it had signed an agreement with Palatin Technologies to collaborate on the discovery, development and commercialisation of compounds for the treatment of obesity.