Biogen Idec exercises option for Amunix’ XTENylated Factor VIII

US privately-held biotech firm Amunix Operating says that Biogen Idec (Nasdaq: BIIB) has exercised its option to enter into an exclusive, worldwide license agreement to research and develop novel, fully-recombinant Factor VIII products with improved therapeutic properties.

Under the terms of the option deal, Amunix will get an upfront $1 million and will also be eligible to receive up to $38 million in clinical and commercial milestone payments. In addition, royalties will be paid on commercial sales by Biogen Idec for Factor VIII products incorporating Amunix proprietary XTEN technology.

In 2011, Amunix and Biogen Idec initiated a research and option agreement under which both companies would collaborate to combine Amunix' expertise in protein half-life extension and its proprietary XTEN technology with Biogen Idec's expertise in both hemophilia and engineering long-lasting coagulation factors (The Pharma Letter April 14, 2011). Under the license accord announced today, Biogen Idec triggered its option for XTENylated Factor VIII products. Biogen Idec will be responsible for developing, manufacturing and commercializing therapeutic product candidates resulting from the collaboration.