UCB and Wilex agree to develop small-molecule and antibody programmes

UCB Pharma, a Belgian biopharmaceutical company and Wilex, a German company specialising in the development of drugs and diagnostic agents for cancer, have entered into a strategic partnership.

Under the terms of the agreement, Wilex will acquire worldwide rights to develop UCB's preclinical oncology portfolio, comprising two small-molecule and three antibody programmes.

UCB will retain the exclusive right to re-purchase each of the five programmes following completion of clinical feasibility studies. The company takes responsibility for further development and commercialisation of each product. Wilex will receive milestone and royalty payments from UCB.

If UCB does not exercise its re-purchase right for each programme, Wilex will retain rights to develop as well as commercialise each programme and UCB will receive milestone and royalty payments from Wilex.

UCB will invest €10m in Wilex upon closing and make milestone payments of €10m upon application of clinical Phase I trial and first dose in man, expected within approximately 12 months.

Melanie Lee, executive vice-president of UCB and president of UCB NewMedicines, said: "This alliance will give UCB the opportunity to focus its r&d priorities in our core indication areas, central nervous system and immunology, while benefiting from Wilex's comprehensive oncology expertise."

Further details of the transaction were not disclosed.