F-star and Denali Therapeutics to develop a multispecific antibody platform

25 August 2016

UK-based biotech firm F-star has announces a collaborative agreement with the US start-up Denali Therapeutics to research and develop antibodies for the delivery of medicines across the blood-brain barrier (BBB) into the central nervous system (CNS).

Under the accord, Denali will make an upfront payment to F-star of $6 million. Denali also has the option to acquire F-star Gamma (F-star's latest asset centric vehicle) prior to the initiation of the first Phase I clinical trial in return for aggregate exercise and milestone payments to the F-star Gamma shareholders of up to $450 m in total.

If Denali does not exercise the option, it has the right it license a number of MAb based on each Fcab generated by F-star Gamma, in return for license fees, development, regulatory and commercial milestones payments with a potential aggregate value of $1 billion and tiered royalties on product sales.

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