- Miragen retains all U.S. and Japanese commercialization rights; Servier gains rights to all other global markets
- Servier to fund multi-year research and development plan on various targets and all preclinical and clinical development costs through Phase II for the compounds
- Miragen retains option to co-sponsor Phase III or opt in after completion and refund part of the cost
- Miragen to receive regulatory and commercial milestones of approximately $352 million and double-digit royalties on product sales in markets outside the U.S. and Japan
- Total deal value approximately $1 billion including development support and payments to Miragen
SURESNES, France, and BOULDER, Colo., October 18, 2011 – Les Laboratoires Servier, a leading European pharmaceutical company with expertise in innovative treatments for cardiovascular diseases, and Miragen Therapeutics, Inc., a preclinical-stage biopharmaceutical company focused on improving patients’ lives by developing innovative microRNA (miRNA)-based therapeutics for cardiovascular and muscle disease, announced today an agreement for advancing the research, development and commercialization of three drug candidates, including two of miRagen’s lead programs (miR-208 and miR-15/195) and one additional target yet to be identified, for cardiovascular disease. This partnership provides worldwide rights, excluding the U.S. and Japan, to Servier.
Under the terms of the agreement, Miragen will receive up to $45 million in total upfront, research support and near-term milestone payments over the next three years, as well as royalties on sales, based on the successful outcome of the collaboration. Additional clinical and commercial milestones, as well as clinical development support for the successful development of the three compounds, would value the deal at approximately $1 billion. Miragen and Servier will collaborate on the research and development effort, while Servier alone will be responsible for all costs associated with the global development, regulatory approval and commercialization of the three product candidates [click to continue…]
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