MAY 08, 2013
Allegro Ophthalmics and Senju Pharmaceutical have penned an agreement to develop and market Allegro's integrin peptide therapy in Japan. The first-in-class treatment targets integrin with an oligopeptide to reduce leakage from and growth of aberrant blood vessels. It is intended for use as an intravitreal injection in patients with vascular eye diseases, including diabetic macular edema and wet AMD.
Under the terms of the agreement, Senju will pay Allegro an eight-digit upfront license fee, additional development and sales milestone fees, and a percentage royalty on net sales in exchange for the rights to co-develop and market the therapy in Japan
"Allegro is very pleased to have formed this strategic partnership with one of the leading ophthalmic pharmaceutical companies in Japan," said Allegro CEO Marc Kirshbaum. "In addition to validating the potential of Integrin Peptide Therapy as an additional treatment option for millions of patients at risk of blindness, this partnership provides Allegro with the capital required to significantly progress its clinical program across multiple indications and phases in the United States."
Allegro recently completed enrollment of a phase 1b/2a study of the therapy as a stand-alone treatment for wet AMD patients and commenced a phase 1b/2a of the treatment in combination with anti-VEGF therapy.