Roche and BioTie agree VAP-1 Ab option deal

Swiss drug major Roche and Finnish biotechnology company BioTie Therapies say they have signed an option agreement that will focus on developing the latter's fully-human antibody that targets Vascular Adhesion Protein-1 (VAP-1). The companies explained that inhibition of VAP-1 reduces inflammation by regulating the migration of leukocytes (white blood cells) to inflamed tissues.

BioTie's antibody, which was developed using USA-based Medarex' HuMab-technology, is expected to enter into clinical development early next year. Under the terms of the deal, Roche will pay an initiation fee of 5.0 million euros ($6.4 million), which entitles it to an option to exclusively license the antibody worldwide, excluding Japan, Taiwan, Singapore, New Zealand and Australia. The firms added that the fee will be paid in two installments during 2006 and 2007, with the Swiss company retaining the right to further extend the option with the payment of additional amounts.

The companies added that the agreement extends a pre-existing collaboration, under which Roche holds an exclusive option right to BioTie's VAP-1 SSAO enzyme small- molecule inhibitor candidates, which are currently in preclinical assessment.