Drug Research
Drug Discovery & Development

Axovant, Oxford BioMedica sign $842.5m Parkinson’s disease deal

PBR Staff Writer Published 07 June 2018

Axovant Sciences has signed an exclusive worldwide licensing agreement with Oxford BioMedica to develop and commercialise, OXB-10, to treat Parkinson’s disease.

Through using LentiVector platform, Oxford BioMedica has developed OXB-102 gene therapy for Parkinson’s disease.

OXB-102, now renamed AXO-Lenti-PD, is a lentiviral gene therapy with a clinically validated mechanism of action for the delivery of the three genes that encode the enzymes needed for endogenous dopamine synthesis.

AXO-Lenti-PD is a second-generation vector construct of OXB-101, which is also called as ProSavi.

Oxford BioMedica CEO John Dawson said: “We are delighted to sign this significant agreement which not only underlines our LentiVector enabled platform and product development strategy but further demonstrates Oxford BioMedica’s ability to build multiple partnerships with leaders in their respective therapeutic fields.”

As per terms of the deal, Oxford BioMedica will secure $30m upfront payment, including $5m as pre-payment for manufacturing activities related to OXB-102.

The company will also receive $55m based on the achievement of specified development milestones, as well as $757.5m upon the achievement of specified regulatory and sales milestones.

In addition, the deal includes the payment of 7% to 10% tiered royalties on net sales of AXO-Lenti-PD.

Axovant Sciences will provide funding for all clinical development, and manufacturing process development and scale-up activities for AXO-Lenti-PD.

The deal also provides an option for both firms to enter into a clinical and commercial supply agreement for GMP manufacturing of AXO-Lenti-PD at Oxford BioMedica.

Axovant Sciences is planning to start a phase I/II dose escalation study of AXO-Lenti-PD in patients with advanced Parkinson’s disease by the end of this year.

Roivant has agreed to acquire $25m worth Axovant common shares, which will help in the clinical development of AXO-Lenti-PD and additional business development activities.

Axovant Sciences CEO Pavan Cheruvu said: “Axovant, together with our parent company Roivant, remains committed to developing innovative treatments for serious degenerative conditions such as Parkinson’s disease, and we are excited to partner with Oxford BioMedica, a recognised global leader in cell and gene therapy.”