Théa Signs License Option Agreement for Elsalys’ Retinal Candidate

March 2, 2018: By Joan McKenna

France-based Théa Laboratories has signed a license option agreement for Elsalys Biotech’s ELB011 program in ophthalmology, Elsalys announced Feb. 22.

Elsalys describes ELB011 as a first-in-class antibody that demonstrates an anti-angiogenic effect on the formation of new blood vessels which cause certain retinal diseases, including age-related macular degeneration (AMD).

Target diseases for ELB011 are wet AMD, proliferative diabetic retinopathy, and diabetic macular edema.

Under the agreement, Théa will pay Elsalys an up-front payment of an undisclosed amount, plus milestone payments and royalties on sales. Théa said its exercise of the option could take place by the end of 2018.

Elsalys, a new French company focused on immuno-oncology, will remain in charge of the initial steps of preclinical development and the production of batches for toxicology studies and clinical trials. Théa will be responsible for full clinical development and commercialization in ophthalmology.

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