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Bayer and Regeneron to collaborate on VEGF Trap

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TARRYTOWN, N.Y. — Bayer HealthCare has entered into a collaboration agreement with Regeneron Pharmaceuticals Inc. for global development and international commercialization of a locally administered VEGF-trapping protein, the companies announced.

Under the agreement, Regeneron will retain exclusive U.S. commercialization rights, will receive a $75 million up-front payment and will be eligible for milestone payments from Bayer. The companies will jointly commercialize the protein outside the U.S. and share equally in those profits, according to a press release.

The protein, called VEGF Trap, is currently in a phase 2 trial for the treatment of age-related macular degeneration and in a phase 1 trial for treatment of diabetic macular edema, according to the release.