FivePrime signs $75M RA Boeh Ing accord
USA-based privately-held protein therapeutics firm FivePrime has entered into a two-year collaborative research and license agreement with Germany's largest drugmaker, Boehringer Ingelheim, to discover novel therapeutic products to treat rheumatoid arthritis and other diseases.
In the multi-product deal potentially worth over $75.0 million, FivePrime will receive an upfront fee and research support, and Boehringer Ingelheim has exclusive worldwide rights to develop and commercialize products and targets discovered in exchange for future milestones and royalties. Further financial details of the agreement have not been disclosed. The basis for the accord is FivePrime's comprehensive, rapid protein screening library, which essentially contains all human secreted proteins and their receptors, including many unavailable in public collections.
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