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Roche in strategic alliance with BioInvent and ThromboGenics

BioInvent and ThromboGenics have announced that they have entered into a licence agreement with Swiss pharmaceutical company Roche for their anti-cancer agent TB-403
BioInvent and ThromboGenics have announced that they have entered into a licence agreement with Swiss pharmaceutical company Roche for their anti-cancer agent TB-403.

Under the terms of the agreement, Roche will pay BioInvent and ThromboGenics $50m upfront. The two companies also stand to receive a potential $450m in milestone and royalty payments. ThromboGenics, which discovered the anti-cancer agent, will receive 60 per cent of the revenue with BioInvent receiving the remaining 40 per cent from the deal.

Dan Zabrowski, global head of pharma partnering at Roche said: "We are very pleased to enter this partnership with BioInvent and ThromboGenics. This novel antibody, TB-403 has the potential to play a major role in the treatment of cancer and we are committed to driving ahead with its development. In addition, we look forward to developing a strong working relationship with BioInvent and ThromboGenics."

The drug, TB-403, works by blocking the formation of new blood vessels needed by tumours to support their growth. It has the potential to significantly reduce both the growth and the spread of cancer cells.

18th June 2008

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