Almirall is Granted Exclusive Global Rights to Develop and Commercialize ISB 880 for Use in Autoimmune Diseases
Ichnos Sciences and Almirall Enter Into a Licensing Agreement for First-In-Class IL-1RAP Antagonist Monoclonal Antibody
NEW YORK, USA and BARCELONA, SPAIN, December 14, 2021 – Ichnos Sciences Inc., a global biotechnology company developing innovative biologics in oncology and autoimmune diseases, and Almirall S.A. (BME: ALM), a global biopharmaceutical company focused on skin health, announced on December 14 that they have entered into an exclusive licensing agreement for the IL-1RAP antagonist ISB 880. Under the agreement, Almirall is granted global rights to develop and commercialize this monoclonal antibody for autoimmune diseases. Ichnos will retain rights for antibodies acting on the IL-1RAP pathway for oncology indications.
Within the terms of the agreement, Almirall will assume full cost and responsibility for the global development and commercialization of the compound for all autoimmune disease indications. Ichnos will receive an upfront payment of €20.8 million as well as additional development and commercial milestone payments and tiered royalties based upon future global sales.
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