Genentech is paying $15 million down and up to $175 million in milestones to license the North American commercial rights of BioInvent's BI-204, a preclinical therapy for reducing arterial plaque. The companies will be jointly responsible for clinical development of the cardiovascular therapy and Sweden's BioInvent retains the commercial rights outside of North America. According to the companies, BI-204 targets a primary cause of atherosclerosis by blocking a major mediator of vascular inflammation that is believed to lead to the formation of unstable plaque in the vessel wall. Researchers found that preclinical animal models have demonstrated that this blockade leads to decreased vascular inflammation and a reduction in established atherosclerotic plaque. Genentech has been inking a series of new deals recently, anxious to beef up a thin pipeline.
- check out BioInvent's press release
- here's the AFX report on the deal
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