UCB and Five Prime Therapeutics announce strategic discovery collaboration
BRUSSELS, BELGIUM & SOUTH SAN FRANCISCO, CALIFORNIA – March 19, 2013. UCB and Five Prime Therapeutics announced today that they have entered into a strategic collaboration for the discovery of innovative biologics targets and therapeutics in the areas of fibrosis-related inflammatory diseases and central nervous system (CNS) disorders. This collaboration gives UCB exclusive access to FivePrime’s drug discovery platforms in up to five programs to identify new targets and disease mechanisms.
Under the terms of the agreement, UCB and FivePrime will collaborate to design assays to screen FivePrime’s comprehensive, proprietary library of approximately 5600 functional secreted proteins and transmembrane receptor proteins (ligand traps). FivePrime will apply its technology platforms to identify potential drug targets and drug candidates in fibrosis-related inflammatory diseases and CNS disorders. UCB has an option to license exclusively rights to selected protein targets discovered by FivePrime in the collaboration.
FivePrime will be eligible to receive approximately $16 million from a combination of an upfront fee, technology access fees, research funding and success-based research milestone payments. In addition, FivePrime would be eligible for potential option exercise fees and product-related milestone payments, as well as tiered royalties on global net sales on future products related to each licensed protein.
Ismail Kola, Executive Vice President and President, NewMedicines at UCB said, “The collaboration with FivePrime is another example of UCB building supernetworks of innovation that aim to create superior and sustainable value for patients. FivePrime’s protein library of nearly every antibody target and ligand trap is unique in the industry, and FivePrime’s in vitro and in vivo screening technologies offer powerful means of finding new targets and biologic medicines that are integral to supporting UCB’s strategy aiming to improve the lives of people living with severe diseases.”
“We are delighted to enter into this strategic collaboration with UCB to discover new protein targets and test potential drug candidates for fibrosis-related inflammatory diseases and CNS-related disorders. UCB is a global leader in the research and development of biologics and brings tremendous expertise to this collaboration,” said Lewis T. “Rusty” Williams, MD, PhD, Founder, President and CEO of FivePrime.
UCB, Brussels, Belgium (www.ucb.com) is a global biopharmaceutical company focused on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases of the immune system or of the central nervous system. With 9000 people in approximately 40 countries, the company generated revenue of EUR 3.4 billion in 2012. UCB is listed on Euronext Brussels (symbol: UCB).
Five Prime Therapeutics, Inc. is a clinical-stage, privately held, biotechnology company discovering and developing innovative antibody and protein therapeutics. Using its integrated discovery platform, FivePrime is building a pipeline of oncology and immunology drug candidates. FivePrime mines its comprehensive library of secreted and extracellular human proteins to screen for medically relevant new therapeutic proteins and antibody targets. FivePrime has entered into a collaboration agreement to develop and commercialize its lead product, FP-1039, with Human Genome Sciences, Inc. (which GlaxoSmithKline has acquired) in the United States, Canada and the EU. FivePrime has also established significant collaborations for the discovery of innovative biologic targets and therapeutics in specific therapeutic areas with several leading pharmaceutical companies, including Pfizer, Centocor and GlaxoSmithKline. For more information about FivePrime, please visit FivePrime’s web site at www.fiveprime.com.
Forward looking statements
This press release contains forward-looking statements based on current plans, estimates and beliefs of management. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including estimates of revenues, operating margins, capital expenditures, cash, other financial information, expected legal, political, regulatory or clinical results and other such estimates and results. By their nature, such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions which could cause actual results to differ materially from those that may be implied by such forward-looking statements contained in this press release. Important factors that could result in such differences include: changes in general economic, business and competitive conditions, the inability to obtain necessary regulatory approvals or to obtain them on acceptable terms, costs associated with research and development, changes in the prospects for products in the pipeline or under development by UCB, effects of future judicial decisions or governmental investigations, product liability claims, challenges to patent protection for products or product candidates, changes in laws or regulations, exchange rate fluctuations, changes or uncertainties in tax laws or the administration of such laws and hiring and retention of its employees. UCB is providing this information as of the date of this press release and expressly disclaims any duty to update any information contained in this press release, either to confirm the actual results or to report a change in its expectations.
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