BioInvent enters collaboration with Genentech

BioInvent announced today that it has entered into a strategic collaboration with Genentech to co-develop and commercialise BioInvent's proprietary antibody candidate, BI-204, for the potential treatment of multiple cardiovascular conditions.

Genentech will make an upfront payment of US$15m to BioInvent and BioInvent could receive further milestone payments of up to $175m as well as royalties on sales in North America.

Genentech will be responsible for, and will solely control, any commercialisation of the drug in North America, whilst BioInvent will control, commercialisation in the rest of the world. The two companies will share the development costs.

BI-204, which is in pre-clinical development, addresses a significant medical need, for the prevention of a cardiovascular event such as a myocardial infarction or stroke in patients at risk. Preclinical studies suggest that this treatment could reduce atherosclerotic plaque burden, and thereby decrease the risk of a secondary cardiovascular event.

BI-204 targets a primary cause of atherosclerosis by blocking a major mediator of vascular inflammation that is believed to lead to the formation of unstable plaque in the vessel wall. Preclinical animal models have demonstrated that this blockade leads to decreased vascular inflammation and a reduction in established atherosclerotic plaque.