Pierre Fabre Laboratories and RedRidge Bio Announce a Drug Discovery and Co-development Partnership
Under the terms of the agreement, RedRidge will provide its capabilities to engineer, screen and characterize BPAs against an undisclosed portfolio of jointly nominated targets, while Pierre Fabre Laboratories will provide their drug development expertise to help drive two co-development programs through clinical development. RedRidge will hold exclusive commercial rights in the United States, Canada, and Japan for both programs, while Pierre Fabre Laboratories will hold exclusive rest-of-world rights. In addition, Pierre Fabre Laboratories will hold exclusive worldwide rights for a third program after a hand-off by RedRidge at a preclinical stage.
Financial terms of the agreement are not disclosed but include investment participation by Pierre Fabre Laboratories in RedRidge's Series A financing that will be announced separately, as well as upfront, milestone and future sales royalty payments in addition to funded research payments for Pierre Fabre Laboratories' worldwide program. RedRidge and Pierre Fabre Laboratories will share R&D costs for the co-development programs.
'This strategic alliance attests to the RedRidge team's expertise in innovation and drug discovery for a wide variety of therapeutic targets. We are thrilled to join forces with Pierre Fabre Laboratories as a highly experienced development partner and look forward to building a long-term partnership that synergistically leverages the capabilities of each company,' said Alex Mayweg, PhD, chairperson of RedRidge's board and a managing director at Versant Ventures.
'Pierre Fabre Laboratories are excited to enter into this agreement with RedRidge, which confirms our commitment to collaborate with innovative biotechnology companies. This partnership will allow us to capitalize on RedRidge's cutting-edge expertise in biparatopic antibody drug discovery to deliver high quality clinical candidates on multiple targets addressing oncology, dermatology and rare diseases. It represents a significant milestone in the implementation of our strategy to enrich further our R&D pipeline,' stated Francesco Hofmann, PhD, Head of Research and Development for Medical Care at Pierre Fabre Laboratories.'
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