Gene and cell therapy group, Oxford BioMedica, has entered into an exclusive worldwide licensing agreement with Axovant Sciences to develop and commercialise a gene therapy it developed for Parkinson’s disease utilising the LentiVector platform.
Oxford BioMedica will receive a $30 million upfront payment including $5 million as pre-payment for manufacturing activities related to OXB-102, now renamed AXO-Lenti-PD.
It is also eligible to receive $55 million upon the achievement of specified development milestones and $757.5 million upon the achievement of specified regulatory and sales milestones, with 7% to 10% tiered royalties on net sales of AXO-Lenti-PD.
Axovant Sciences will fund all clinical development costs and manufacturing process development and scale-up activities for AXO-Lenti-PD.
The agreement also allows for both parties to put in place a clinical and commercial supply agreement for GMP manufacturing of AXO-Lenti-PD at Oxford BioMedica.
Axovant Sciences said it expects to initiate a Phase I/II dose escalation study of AXO-Lenti-PD in patients with advanced Parkinson’s disease by the end of 2018.