Allergan and Molecular Partners have entered into a license agreement for MP0112, a phase II proprietary therapeutic DARPin(r) protein targeting VEGF under investigation for the treatment of retinal diseases.

Under the agreement, Allergan obtains exclusive global rights for MP0112 for ophthalmic indications. The parties will work together during phase IIb development and Allergan will be responsible for phase III development and commercialization activities. Molecular Partners will receive an up-front payment of $45 million and is further entitled to receive additional payments of up to an aggregate of $375 million upon meeting certain development, regulatory and sales milestones. In addition, Molecular Partners will receive tiered double-digit royalties on any future sales of MP0112.