Oxurion receives upfront payment of approximately $400,000, contributing to Oxurion’s investment in THR-149
THR-149 is being evaluated in a Phase 2 clinical trial as a potential treatment for diabetic macular edema, which is expected to readout topline results by the end of this year.
THR-149 is being evaluated in a Phase 2 clinical trial as a potential treatment for diabetic macular edema, which is expected to readout topline results by the end of this year. (Image Credit: ©Lemonsoup14 - Adobe.Stock.com)
Oxurion announced that it received an upfront payment of approximately $400,000 following the exercise of an option by a third party to license Oncurious, a preclinical oncology asset previously owned by its subsidiary, which had recently been transferred to VIB.
The payment will be contributing to Oxurion’s investment in THR-149, a potent plasma kallikrein inhibitor being developed as a potential new standard of care for the up to 50% of DME patients showing suboptimal response to anti-VEGF therapy.1
Oxurion signed a profit-sharing agreement in September 2022 with VIB covering the asset. The agreement included Oxurion receiving approximately 80% profit-sharing in any transaction for the asset. This means Oxurion could receive more than $32 million in developmental, regulatory and commercial milestone payments, in attrition to market conforming royalties on sales.
Tom Graney, CEO of Oxurion, said in a press release, “We are delighted by the successful collaboration between VIB and its partner that will continue the development of what we view as a valuable preclinical asset addressing a key oncology target with an innovative scientific approach. The upfront payment will contribute to Oxurion’s investments in THR-149, being evaluated in a Phase 2 clinical trial as a potential treatment for diabetic macular edema, which is expected to readout topline results by the end of this year.”
Jérôme Van Biervliet, Managing Director VIB, added, “In the partnership with Oncurious, great progress was made based on scientific breakthroughs discovered at VIB. For the next phase of development, VIB and Oxurion are convinced that these innovative therapeutics deserve the most optimal setting for translation to the patient.”
References
BioSpace. Oxurion receives upfront payment of $400,000 following oncurious asset license by VIB. BioSpace. July 25, 2023. Accessed July 26, 2023. https://www.biospace.com/article/releases/oxurion-receives-upfront-payment-of-400-000-following-oncurious-asset-license-by-vib-/.
