Affibody and Chiesi Group have announced the execution of a collaboration and licensing agreement to develop and commercialize innovative treatments for respiratory diseases using Affibody’s technology.
Under the terms of the agreement, the parties will collaborate closely to progress up to three programs based on Affibody molecules against undisclosed targets for respiratory diseases. Chiesi will fund all discovery, development, and subsequent commercialization worldwide, in line with its strategy and commitment to providing best-in-class level of care for people living with respiratory diseases, going beyond treatments and focusing on the patient experience, states Affibody in a press release. Affibody has retained the option to co-promote in the Nordic region.
“This collaboration with Chiesi accelerates Affibody’s strategic development and further reinforces the competitiveness of our technology which has now been validated both clinically and commercially,” says David Bejker, CEO of Affibody. “We acknowledge and appreciate Chiesi’s significant commitment and expertise in the development of inhaled drugs and believe that this partnership will help maximize the value of inhaled Affibody molecules.”
The small size of the Affibody molecules combined with their robustness allows for the unique attributes explored under this collaboration, such as broad distribution and sustained exposure in the lung, as seen in preclinical models, describes Affibody.
Milestone payments up to USD 214 million
Under the terms of the agreement, Affibody is eligible to receive upfront, development, regulatory, and commercial milestone payments up to USD 214 million plus mid-single to low double-digit royalties on sales for the first program.
The agreement can be expanded to a total of three programs in which case Affibody is eligible to receive upfront, development, regulatory, and commercial milestone payments up to USD 637 million plus mid-single to low double-digit royalties on sales.
Photo of David Bejker, CEO of Affibody: Affibody