Allergan licenses retinal disease drug from Molecular Partners

Allergan has agreed a licensing deal with Molecular Partners relating to a potentially promising new therapy option for retinal diseases.

The exclusive agreement will allow Allergan to claim global rights to develop and commercialise MP0112, a proprietary therapeutic DARPin protein-targeting VEGF compound that is currently in phase II testing.

Early-stage trial data for the compound has shown that it can potentially offer long-lasting vision gains among sufferers of conditions such as wet age-related macular degeneration and diabetic macular edema after a single injection.

As part of the deal, Molecular Partners will receive an upfront payment of $45 million (27.47 million pounds), plus milestone payments of up to $375 million and royalties dependent on any future sales.

Dr Scott Whitcup, executive vice-president and chief scientific officer of Allergan, said: "This agreement aligns with Allergan's strategy to become a leader in developing new treatments for retinal disease."

Last week, the company published its financial results for the first quarter of 2011, during which it saw a 13.3 percent year-on-year growth in sales.