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Medwell Capital Corp.

Drug Names(s): MBP8298

Description: MBP8298 comprises 17 amino acids identical to myelin basic protein (MBP). In chronic progressive MS patients, disease attack results in increased antibodies to MBP in the cerebrospinal fluid.

The specificity of the immune attack at the molecular level is determined in each case by the HLA type of the individual patient, and HLA type is known to be one factor that contributes to susceptibility to MS. The MBP8298 synthetic peptide is a molecular replicate of the site of attack that is dominant in MS patients with HLA haplotypes DR-2 or DR-4. These HLA types are found in 65-75% of all MS patients. The apparent mechanism of action of MBP8298 is the induction or restoration of immunological tolerance with respect to ongoing immune attack at this molecular site.

Deal Structure: Revenue splits for this drug are BioMedTracker estimates.

AutoImmune has exclusively licensed certain of its intellectual property rights to BioMS Medical. Under the license agreement, BioMS makes monthly diligence payments to AutoImmune and has a royalty obligation on sales of MBP8298 should it reach the market.

In December 2007, Eli Lilly and BioMS Medical announced that the two companies have entered into a licensing and development agreement granting Lilly exclusive worldwide rights to MBP8298.

Under the terms of the agreement, Lilly and BioMS Medical will collaborate on the development of MBP8298 and will also share in certain development costs with Lilly being responsible for future R&D, manufacturing and marketing activities. BioMS Medical will receive an upfront payment of $87 million, as well as potential development and sales milestones up to $410 million and escalating royalties on sales commensurate with the current stage of development of the product if MBP8298...See full deal structure in Biomedtracker

Partners: AutoImmune Inc.

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