Idera Pharmaceuticals (NASDAQ: IDRA) and Vivelix Pharmaceuticals Ltd. have entered into an exclusive license and collaboration agreement granting Vivelix worldwide rights to develop and market IMO-9200, an antagonist of TLR 7,8 and 9, for non-malignant gastrointestinal disorders. Per the agreement, Idera will receive an upfront fee of $15 million. In addition, Idera will be eligible for future IMO-9200-related development, regulatory and sales milestone payments totaling up to $140 million, as well as escalating royalties of global net sales. Idera is also responsible for developing potential back-up compounds to IMO-9200 if requested by and at Vivelix’s expense. As it relates to back-up compounds, Idera will be eligible for related development, regulatory sales and milestone payments totaling up to $52.5 million and escalating royalties of global net sales.
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About Idera Pharmaceuticals
Idera Pharmaceuticals is a clinical-stage biopharmaceutical company developing novel nucleic acid-based therapies for the treatment of certain cancers and rare diseases. Idera’s proprietary technology involves using a TLR-targeting technology, to design synthetic oligonucleotide-based drug candidates to act by modulating the activity of specific TLRs. In addition to its TLR programs, Idera has created a third generation antisense technology platform using its proprietary technology to inhibit the production of disease-associated proteins by targeting RNA. For more information visit the company’s website at www.iderapharma.com
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