Thursday, March 13, 2014

AnaptysBio Gets $17M in Licensing Deal

San Diego-based AnaptysBio, a biopharmaceuticals firm focused on the development of therapeutic antibodies, announced a deal today with TESARO. According to AnaptysBio, it will receive an upfront license fee of $17M from TESARO, plus receive funding of costs incurred in related development programs, as part of an antibody program. In addition, AnaptysBio said it is eligible to receive milestone payments of up to $18M for meeting certain research and development milestones, as well as an additional $90M for reaching regulatory submissions and approvals, along with eventual royalties if those antibodies reach the market. AnapytsBio is venture backed by Alloy Ventures, Avalon Ventures, Frazier Healthcare Ventures and Novo A/S.