Peptimmune announced today that it has granted Novartis an exclusive option to obtain exclusive worldwide rights to develop and commercialize PI-2301 for multiple sclerosis.
The Copaxone like, PI-2301, is a peptide copolymer developed using Peptimmune’s platform peptide chemistry. PI-2301 binds to MHC II molecules on monocytes, macrophages, and dendritic cells both subcutaneously and in circulation. This binding induces a differentiation of these antigen-presenting cells which leads to an expansion of immune-regulatory Th2 and T-regulatory cells. This expansion of Th2/Treg cells controls and minimizes the autoimmune inflammatory Th1/Th17 cell populations. In short, PI-2301 modulates the immune system from an inflammatory state to a regulatory state. PI-2301 is currently in Phase 1b development by Peptimmune.
In a separate but related agreement, the MPM Bio IV NVS Strategic Fund L.P. made an equity investment in Peptimmune.
In the event that Novartis exercises the option to PI-2301, Novartis would assume the global clinical development, manufacturing, and marketing of PI-2301 and all associated costs. Peptimmune would receive payments upon the option exercise and upon successful completion of certain development, regulatory, and commercial milestones. These payments together could total more than $500 million. In addition, Peptimmune shall be eligible to receive royalties on product sales. Additional terms were not disclosed.
Peptimmune Grants Major Pharmaceutical Company Exclusive Option to License PI-2301 for Multiple Sclerosis
(Via PR Newswire: Pharmaceuticals/Biotechnology.)
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