TxCell, Ferring collaborate on Ovasave
Monday, January 5, 2015
TxCell, a biotechnology company developing personalized T cell immunotherapies for severe chronic inflammatory and autoimmune diseases, is collaborating with Ferring International Center on the development of TcCell’s lead product Ovasave for the treatment of inflammatory bowel diseases (IBD), including Crohn’s disease and ulcerative colitis. TxCell, a spin-off of Inserm (France’s National Institute for Health and Medical Research) is located in the Sophia Antipolis technology park, Nice, France.
The collaboration, option, development and license agreement between TxCell and Ferring International Center has been assigned to Trizell Holding, an affiliate member of the Dr. Frederik Paulsen Foundation. Trizell was established by the Dr. Frederik Paulsen Foundation to provide specialist management and scientific and development expertise that is dedicated to advanced therapies, i.e. cellular and gene therapies.
Ferring, an affiliate company of the foundation and a part of Ferring Pharmaceuticals, executed an exclusive worldwide agreement in December 2013 with TxCell, securing the option to be the commercializing entity for Ovasave for the treatment of IBD, including Crohn’s disease and ulcerative colitis. Ferring and its affiliates have an operating presence in more than 55 countries and have an established global franchise in IBD.
The deal is estimated as being potentially worth up to $90.4 million in upfront and milestone payments plus royalties subject to the achievement of sales milestones and is unchanged by the Trizell assignment.