Proactive Investors - Run By Investors For Investors

Circadian Technologies gains worldwide license from Chugai Pharmaceutical for VEGF-D applications

In a major shot in the arm for Circadian, the largest biopharmaceutical company in Japan, Chugai Pharmaceutical, a part of Roche has granted Circadian a global license to its vascular endothelial growth factor (VEGF) D intellectual property.
Circadian Technologies gains worldwide license from Chugai Pharmaceutical for VEGF-D applications

Cancer therapy drug developer Circadian Technologies (ASX: CIR) has received a major vote of confidence from biopharmaceutical global player Chugai Pharmaceutical, with worldwide VEGF-D intellectual property rights granted.

Chugai is part of the Roche Group of companies, 52% owned by Hoffman La-Roche.

With the deal, Circadian cements its position as a world leader in vascular endothelial growth factor (VEGF-D) development.

With Chugai's VEGF-D inventory, this enhances Circadian's ability to generate early revenues by using VEGF-D to develop new diagnostics and treatments.

VEGF-D is a major new target for cancer and other diseases including diagnostics for respiratory disease.

Importantly, the agreement allows Circadian to sub-licence which will enable the company to expand work in utilising the VEGF-D intellectual property estate through selective partnerships.

Consideration for the agreement is Circadian will pay an upfront licence fee to Chugai, and milestone payments and royalties on certain VEGF-D related products.

Robert Klupacs, chief executive officer of Circadian, said "It is a great honour for us that such a well regarded company as Chugai - a major player in Japan and part of the Roche group - has the confidence in our product development and commercialisation skills to grant us a licence to their intellectual property."

Chugai had revenues of $US4.6 billion in 2009.


View full OPT profile View Profile

Opthea Ltd Timeline

Related Articles

A woman with severe depression
April 25 2019
The New York clinical-stage biopharmaceutical company has several drugs in the pipeline capable of generating hefty revenue
February 22 2019
The company is developing drugs for blood disorders, metabolic diseases and curbing alcohol use
A man's knee pain is highlighted with a red area that points to inflammation
January 23 2019
The injectable PPS trial has had a clinically meaningful and statistically significant result in patients with arthritic knee pain.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use