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Roche, Genentech enter license and development agreement with SurModics
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EDEN PRAIRIE, Minn. — Roche and Genentech have acquired an exclusive license to use SurModics' biodegradable microparticles drug delivery system to develop and commercialize a sustained drug delivery formulation of ranibizumab, SurModics announced in a press release.
Under the terms of an exclusive license and development agreement signed by the companies, Roche and Genentech will also be granted opportunities to develop additional compounds for treating ophthalmic diseases, according to the release.
Under the terms of the agreement, Roche will tender SurModics an initial licensing fee of $3.5 million, with the possibility for an additional $200 million in fees and milestone payments upon the development and commercialization of several products covered in the agreement, as well as undisclosed product sales royalties.
In addition, Roche and Genentech will pay SurModics development fees and will retain SurModics' manufacturing services.
"The agreement, which includes Lucentis and potentially other products, addresses a wide range of ophthalmic diseases and leverages our expertise and technology platforms in ophthalmology, employs our proprietary biodegradable microparticles drug delivery system from SurModics Pharmaceuticals, and will utilize our new world-class cGMP manufacturing facility in Birmingham, Ala.," Bruce Barclay, president and CEO of SurModics, said in the release.