ThromboGenics NV, a KU Leuven spin-off company focused on developing innovative ophthalmic medicines, announced that it has entered into an agreement with Alcon (a division of Novartis), the global leader in eye care, for the commercialization of ocriplasmin in all markets outside the U.S. As a result of this important strategic deal, ThromboGenics will concentrate on commercializing ocriplasmin in the U.S. where it plans to build its commercial and medical organization to support the product’s anticipated launch within the next 12 months.
Under the terms of the agreement with Alcon, ThromboGenics will receive an up-front payment of €75M. The Company is also entitled to a further €90M in potential near-term milestone payments. Additional milestones bring the potential total of up-fronts and milestones to €375M. In addition, ThromboGenics will receive royalties on net sales of ocriplasmin that are commensurate with a product that has successfully completed Phase III development and that has been filed for regulatory approval. Under the agreement ThromboGenics will have a strategic and focused operational role in the commercialization of ocriplasmin in the five largest European markets, enabling it to build the foundation for an expanding ophthalmology franchise. In addition to the commercial introduction of ocriplasmin in markets outside the U.S., the agreement specifies that Alcon and ThromboGenics will work together, and share the costs, to further develop new clinical applications of the product that the companies will introduce in their respective territories.
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