Strategic alliance aims to advance therapy for auto-immune disorders
Sanford Burnham Prebys today announced that Cerecor Inc., a biopharmaceutical company focused on becoming a leader in the development and commercialization of treatments for immunologic, immuno-oncologic and rare genetic disorders, has entered into an exclusive license agreement with the Institute for the worldwide development and commercialization of an immune checkpoint program.
"We are delighted to enter into this strategic alliance with Sanford Burnham Prebys," said Garry Neil, Chief Scientific Officer of Cerecor. "Our goal is to identify and develop programs with a promising novel target for combating specific auto-immune disorders which still have significant unmet need, and this transaction helps us achieve this goal.”
“I am excited that Cerecor will develop this much needed therapeutic,” said Carl F. Ware, the Director of the Infectious and Inflammatory Diseases Center at Sanford Burnham Prebys, a leading center in biomedical research institute located in La Jolla, California. “This program reflects the increasing importance of novel immune checkpoints in health and disease. I look forward to Cerecor rapidly advancing this program to the clinic.”
Under the terms of the agreement, Sanford Burhnam Prebys will receive an up-front payment from Cerecor and is also eligible to receive additional payments based on achievement of development, regulatory and commercial milestones, sales-based royalties and a share of sublicensing income.