Theraclone Sciences, Inc., announced that Zenyaku Kogyo Co. Ltd., has exercised its option for an exclusive license in the Japan territory to Theraclone’s influenza monoclonal antibody program. The collaboration utilizes Theraclone’s I-STAR™ technology to discover broadly protective monoclonal antibodies for the treatment of pandemic influenza and severe seasonal influenza.
“We have worked very closely and effectively with Zenyaku Kogyo over the past six months to reach key milestones in our influenza monoclonal antibody partnership. Both Theraclone and Zenyaku Kogyo are very encouraged by initial results and we look forward to our continued strong development relationship”
To date, Theraclone has received over $9M in fees, research milestone payments, and an equity investment from Zenyaku Kogyo for this program. Total potential funding for the program is $18M through Phase 1 clinical trials. In addition, Theraclone is eligible to receive clinical milestone payments and royalties from potential future sales in the territory. Theraclone shall retain worldwide development and commercial rights outside of Japan. Zenyaku Kogyo shall be eligible to receive a share of proceeds from Theraclone’s licensing of rights in Asian countries outside of Japan.
“We have worked very closely and effectively with Zenyaku Kogyo over the past six months to reach key milestones in our influenza monoclonal antibody partnership. Both Theraclone and Zenyaku Kogyo are very encouraged by initial results and we look forward to our continued strong development relationship,” said David Fanning, President and CEO of Theraclone Sciences, Inc.
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