As reported in GEN and Fierce Biotech today, Astellas has torn up its old agreement with Regeneron and negotiated a new deal for the latter's VelocImmune monoclonal antibody platform. In the new deal, Astellas agreed to pay Regeneron $165 M upfront with up to another $130 M in milestone payments due in 2018. Regeneron can also reportedly share in mid-single digit royalties on sale of final products when they go commercial.
"VelocImmune will continue to be the indispensible technology for our antibody drug development program," said Shinichi Tsukamoto, svp of drug discovery research.
Posted by Bruce Lehr July 28th 2010.