Regeneron wins rich pact for VEGF trap

Bayer has agreed to pay Regeneron $75 million up front and up to $245 million more in milestone payments in a licensing pact for an experimental VEGF trap therapy for eye diseases. A VEGF trap belongs to the category of drugs known as angiogenesis inhibitors. This therapy blocks the action of vascular endothelial growth factor and prevents the growth of new blood vessels into a tumor. Researchers will develop the therapy for wet age-related macular degeneration and other conditions. The pact includes a profit-sharing arrangement for all countries outside the U.S. Regeneron retains full U.S. commercialization rights.

- read the AFX report for more information

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