TORONTO, Dec. 14 /PRNewswire/ - Trillium Therapeutics Inc. (TTI), a Canadian biopharmaceutical company, announced today that it has entered into an agreement with Genentech, Inc. (NYSE: DNA), granting the latter exclusive worldwide rights to TTI's technology to develop and commercialize products directed against a particular target (undisclosed). Under the terms of the agreement, TTI will receive an upfront payment, research funding and milestone payments. TTI will also receive royalties on product sales in the event of commercialized products. No other financial terms were disclosed. The companies will together complete preclinical development activities, while Genentech will be solely responsible for clinical development, regulatory approvals, manufacturing and commercialization. "To ensure broad and optimal development of this promising program, we chose to partner with a world-leading biotechnology company that will bring significant resources and expertise in the development and manufacturing of protein therapeutics", stated TTI's CEO, Dr. Niclas Stiernholm. "This new relationship with Genentech confirms the quality of TTI's program and validates the company's strategy to use its core immunology research and development capabilities to build a portfolio of promising therapeutic product candidates. The execution of this agreement will facilitate the advancement of this research program towards the clinic and provides TTI with resources to advance our existing programs, as well as to explore several new product opportunities", added Dr. Stiernholm. "This agreement is a testimony, not only to the excellent science emanating from our universities, but to the superb management of the science by Dr. Stiernholm and his team who, in a relatively short period of time, moved the discovery from academic to commercial interest. This collaboration puts the company in the top echelon of Canadian private companies historically", said Calvin Stiller, Chairman of the Board of Trillium Therapeutics. About Trillium: Trillium Therapeutics Inc. is a private research and development company specializing in innovative therapies that restore balance to the immune system in conditions associated with aberrant and harmful immune responses. These include autoimmune and inflammatory disorders, graft rejection, cancer and chronic viral diseases. The Company identifies early-stage therapeutic candidates with promising preclinical profiles and advances these towards clinical testing, with the primary objective of demonstrating safety and efficacy in humans. TTI currently has three programs, two targeting the CD200 immunoregulatory axis and a third that focuses on pro-inflammatory cytokine receptor antagonists. The company has a broad network of external academic and industry R&D collaborations.
SOURCE Trillium Therapeutics Inc.