Allergan licenses Polyphor's PEM drugs in $61M deal
Privately-held Swiss firm Polyphor has licensed the rights to develop Protein Epitope Mimetics cytokine inhibitors for conditions and diseases of the eye to US drugmaker Allergan.
Under the terms of the deal, the firms will conduct a research program designed to identify compounds that are optimally suited for local delivery to the eye in combination with Allergan's proprietary drug-delivery systems. The US firm will progress compounds arising from the collaboration through clinical development.
Polyphor will receive an upfront payment of $7.0 million and is entitled to receive up to $61.0 million in R&D and first commercial sales milestones, plus royalties.
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