Neose and BioGeneriX announce second agreement
Neose Technologies, a biopharmaceutical company focused on improving protein therapeutics, and BioGeneriX, part of the ratiopharm Group, a leading European generics producer, have entered into a supply and option agreement that, if the option is exercised, would result in the use of Neose's proprietary GlycoPEGylation technology to develop a long-acting, next-generation version of a currently marketed thera-peutic protein.
Neose Technologies, a biopharmaceutical company focused on improving protein therapeutics, and BioGeneriX, part of the ratiopharm Group, a leading European generics producer, have entered into a supply and option agreement that, if the option is exercised, would result in the use of Neose's proprietary GlycoPEGylation technology to develop a long-acting, next-generation version of a currently marketed thera-peutic protein.
Under the agreement, BioGeneriX and Neose will enter into an initial three-month research period, for which Neose will receive a payment and supply of protein for research purposes. During the period Bio-Generix may choose to enter into a pre-negotiated research, licence and option agreement under which Neose would receive additional upfront and research payments and could receive milestone payments totalling up to $61.5m, as well as royalties on product sales.
BioGeneriX could also attain the right to an exclusive, worldwide license to use Neose's GlycoPEGylation technology to develop and commercialise a long-acting, next generation version of the undisclosed therapeutic protein.