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XOMA, Les Laboratoires Servier enter agreement to develop, commercialize anti-inflammatory compound
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BERKELEY, Calif. — XOMA and French pharmaceutical developer Les Laboratoires Servier have entered into a regional agreement to jointly develop and commercialize a monoclonal antibody that has demonstrated anti-inflammatory capabilities in multiple indications, XOMA announced in a press release.
Designed to inhibit the pro-inflammatory cytokine interleukin-1 beta, the compound, called XOMA 052, has already received orphan drug designation from both the U.S. Food and Drug Administration and the European Medicines Agency for treating Behçet's uveitis.
Under the terms of the agreement, Les Laboratoires Servier will tender XOMA approximately $35 million, with the potential to pay up to approximately $470 million in milestone payments and tiered future royalties at a mid-teens percentage rate. Les Laboratoires Servier will finance the first $50 million in development costs and half of further expenditures for XOMA 052 in the Behçet's uveitis indication, according to the release.
Also under the agreement, XOMA will retain development and commercialization rights for Behçet's uveitis and other inflammatory and oncology indications in the U.S. and Japan, while Les Laboratoires Servier will retain development and commercialization rights in the rest of the world. XOMA will be responsible for manufacturing XOMA 052 through clinical development and plans to remain the long-term manufacturer of the drug, the release said.
XOMA expects the compound to advance into phase 3 development in Behçet's uveitis later this year. XOMA also plans to release results from two ongoing phase 2 studies of the compound among patients with type 2 diabetes during the first quarter.