Boehringer licenses Evec MAb in $79M deal
Boehringer Ingelheim has licensed a fully-human therapeutic antibody program in an undisclosed indication from Japanese bioventure firm Evec.
The privately-held German drug major will obtain worldwide exclusive development and commercialization rights to a complete program in return for milestones totalling up to 55.0 million euros ($79.4 million), as well as royalties. Further financial details were not disclosed.
Kenzo Takada, chairman of the Sapporo-based firm, said: "Evec is one of the first Japanese bioventure companies which has concluded a license agreement with a western multinational pharmaceutical company. We believe that this will encourage furthermore the research and development of Japanese bioventure companies."
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