Serum Institute will fund and be responsible for the clinical development of VIS513
Visterra and Serum Institute of India (Serum Institute) has announced that the companies have entered into a license agreement for the development, manufacture and commercialization of VIS513 in the Indian subcontinent countries.
VIS513 is Visterra's humanized monoclonal antibody that was designed to bind and potently neutralize all four serotypes of dengue virus and was engineered using Visterra's innovative and proprietary Hierotope technology. Preclinical studies of VIS513 have demonstrated a rapid reduction in viral titers after a single systemic administration, which supports its continued development as a single administration for the treatment of dengue virus infection.
Under the terms of the agreement, Serum Institute receives an exclusive license to VIS513 for the Indian subcontinent, including India, Pakistan, Bangladesh, Nepal, Bhutan, Maldives, and Sri Lanka. Serum Institute will pay Visterra a $ 5 million upfront payment, plus up to US$ 34 million based on the achievement of certain development and commercial milestones. Additionally, once VIS513 is commercialized, Visterra will be eligible to receive tiered, double-digit royalties based on net sales in the licensed territories.
Serum Institute will fund and be responsible for the clinical development of VIS513 in the licensed territories, including the filing of regulatory applications. The companies will establish a joint steering committee primarily to coordinate VIS513 development activities for the Indian subcontinent with the global development strategy. Following regulatory approval, Serum Institute will be responsible for commercializing VIS513 in the licensed territories.
"We believe that VIS513 is a promising novel monoclonal antibody being developed for the treatment of dengue, which is a major healthcare concern to India and surrounding countries. We are excited to take on this important role to advance the development of a potential treatment that could address a significant unmet medical need," said Mr Adar Poonawalla, CEO, Serum Institute. He added, "This collaboration further strengthens our pipeline of innovative biologics and we look forward to working closely with Visterra and its talented team."