Amgen has teamed up with Provention Bio to licence and co-develop AMG 714, a novel anti-IL-15 monoclonal antibody being developed for the treatment of gluten-free diet non-responsive celiac disease (NRCD).
Development efforts at Provention will be led by researchers with previous experience developing AMG 714.
Provention will conduct and fund a Phase 2b trial in NRCD and lead the next phase of development and regulatory activities for the program.
Amgen will make a $20 million investment coincident with Provention’s next financing event, subject to certain terms and conditions. Amgen is also responsible for the manufacturing of AMG 714.
Upon completion of the Phase 2b trial, Provention will be eligible to receive a $150 million milestone payment, as well as additional regulatory milestone payments and royalties if Amgen continues AMG 714 development.
Ashleigh Palmer, co-founder and CEO of Provention, said: “AMG 714 has the potential to be the first FDA-approved treatment for celiac disease and aligns with Provention’s mission to prevent and intercept immune-mediated disease.”