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Home Industry News Biogen Idec license rights over Volociximab

Biogen Idec license rights over Volociximab

10th January 2008

Biogen Idec and PDL BioPharma have granted the privately held biopharmaceutical company Ophthotech worldwide development and commercial rights for ophthalmic indications of volociximab.

The exclusive world licensing agreement will allow Ophthotech to develop an angiogenesis antibody for age-related macular degeneration (AMD).

Under the terms of the agreement, Biogen Idec and PDL will each receive an equity position in Ophthotech as well as a combination of development milestone payments and royalties on future product sales.

Faheem Hasnain, executive vice-president of the oncology and rheumatology strategic business unit at Biogen Idec, highlighted that there continued to be a significant unmet medical need in treating AMD.

“We’re pleased that Ophthotech, founded by leaders in the development of new therapeutics for this disease, has chosen to explore the potential of volociximab in AMD,” he added.

PDL’s interim chief executive officer Patrick Gage suggested that the anti-angiogenesis properties of volociximab in combination with Ophthotech’s expertise would provide an excellent opportunity to maximise the drug’s value.

Earlier this week, Biogen Idec and Elan announced new information regarding the use, safety and exposure worldwide of Tysabri (natalizumab) in patients with multiple sclerosis.

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