TORONTO, Jan. 12 /CNW/ - Trillium Therapeutics Inc. (TTI), a biopharmaceutical company developing innovative immune-based biologics, today announced that it has entered into a definitive license agreement with Biogen Idec (NASDAQ: BIIB), granting the latter exclusive worldwide rights to one of Trillium's development programs.
"Biogen Idec is a premier biotechnology partner and a world leader in immunology research and development", commented Trillium CEO, Dr. Niclas Stiernholm. "We have had the privilege and fortune to work with some of the world's best immunology companies over the past few years, which reinforces the value and quality of our strong and innovative science."
"The Biogen Idec partnership clearly adds value and strongly validates the quality of our programs" underlined Luc Marengère, lead investor and Managing General Partner with VG Partners.
Under the terms of the agreement, TTI will receive an upfront payment and is eligible to receive milestone payments based on achievements of specified clinical, regulatory and commercial accomplishments. TTI will also receive royalties on global product sales. No other financial terms were disclosed. Biogen Idec will be solely responsible for clinical development, regulatory approvals, manufacturing and commercialization.
"Trillium's strong immunology foundation and its close connection to Toronto's world class immunology research community, has allowed it to build a suite of exciting biologies opportunities in the immunoregulatory field", added Dr. Michael Moore, Trillium's Chairman. "We look forward to concluding additional partnerships later in the year, particularly around our non-core assets."
Trillium Therapeutics Inc. is a private biopharmaceutical company specializing in innovative therapies of immune-mediated conditions, such as autoimmune and inflammatory disorders, as well as cancer. The company's lead program, TTI-1612, is a recombinant growth factor that is being developed for the treatment of interstitial cystitis (IC) and the prevention of necrotizing enterocolitis (NEC). Trillium has broad portfolio preclinical immunology programs, including two that target the CD200 immunoregulatory axis; a CD200-specific monoclonal antibody for the treatment of cancer, and a CD200Fc fusion protein for the treatment of autoimmune and inflammatory diseases. In addition, the company has an FcyRlla-specific humanized monoclonal antibody in development for treatment of immune complex-mediated inflammatory diseases.
The company has a broad network of external academic and industry R&D collaborations, including several license agreements with major US biotechnology companies. The Company is supported by three premier venture capital investors: Vengrowth Private Equity Partners, Growthworks Capital and BDC Capital.
SOURCE Trillium Therapeutics Inc.
For further information: For further information: Niclas Stiernholm, Ph.D., Chief Executive Officer, Trillium Therapeutics Inc., 96 Skyway Avenue, Toronto, Ontario, M9W 4Y9, Canada, Tel: (416) 595-0627, Fax: (416) 595-5835, firstname.lastname@example.org; www.trilliumtherapeutics.com