Sirna/Allergan Strategic Alliance Agreement
From the 8-K: "On Wednesday, September 28, 2005, Sirna Therapeutics, Inc. (the “Company”) entered into a Strategic Alliance Agreement (the “Agreement”) with Allergan, Inc. and affiliated entities (collectively, “Allergan”).
The Agreement provides for a multi-year alliance with Allergan to develop Sirna-027, a RNAi-based therapeutic currently in Phase I for age-related macular degeneration (AMD), and to discover and develop other RNAi-based therapeutics against select gene targets in ophthalmic diseases. Under the Agreement, the Company will receive an initial license fee of $5 million as well as contract manufacturing revenues, and will be eligible for development milestones of up to $245 million in addition to research funding and royalties on the worldwide sales of products resulting from the alliance. The operations of the alliance will be managed by a Joint Steering Committee composed of members of both the Company and Allergan. Allergan will assume all development and future commercialization responsibilities for Sirna-027 and will bring to the alliance their proprietary ocular drug delivery technologies for the administration of RNAi-based therapeutics. Sirna will develop optimized lead compounds against Allergan’s identified gene targets, and Allergan will be responsible for all pre-clinical, clinical and commercialization activities for these compounds. The Agreement provides for customary confidentiality, cross-indemnification and termination provisions."
Full text of the Sirna/Allergan Strategic Alliance Agreement.
The Agreement provides for a multi-year alliance with Allergan to develop Sirna-027, a RNAi-based therapeutic currently in Phase I for age-related macular degeneration (AMD), and to discover and develop other RNAi-based therapeutics against select gene targets in ophthalmic diseases. Under the Agreement, the Company will receive an initial license fee of $5 million as well as contract manufacturing revenues, and will be eligible for development milestones of up to $245 million in addition to research funding and royalties on the worldwide sales of products resulting from the alliance. The operations of the alliance will be managed by a Joint Steering Committee composed of members of both the Company and Allergan. Allergan will assume all development and future commercialization responsibilities for Sirna-027 and will bring to the alliance their proprietary ocular drug delivery technologies for the administration of RNAi-based therapeutics. Sirna will develop optimized lead compounds against Allergan’s identified gene targets, and Allergan will be responsible for all pre-clinical, clinical and commercialization activities for these compounds. The Agreement provides for customary confidentiality, cross-indemnification and termination provisions."
Full text of the Sirna/Allergan Strategic Alliance Agreement.
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