European pharmaceutical company, Les Laboratoires Servier, has entered into a partnership agreement with Miragen Therapeutics, for advancing the research, development and commercialisation of three microRNA-targeting drugs for cardiovascular diseases, including two of miRagen's programmes (miR-208 and miR-15/195).
As per the agreement, Miragen will receive up to $45m in total upfront, research support and near-term milestone payments over the next three years, as well as royalties on sales, based on the successful outcome of the collaboration.
Including development support and payments to Miragen, the deal could reach a total value of approximately $1bn.
Miragen and Servier will collaborate on the research and development effort, while Servier alone will be responsible for all costs associated with the global development, regulatory approval and commercialisation of the three product candidates worldwide, excluding the US and Japanese markets.
Miragen Therapeutics president and CEO William Marshall said by combining their strengths, they hope to translate the potential of microRNA targeting into life-changing medicines for patients in need.
Miragen has licensed the rights to utilise Santaris Pharma A/S proprietary Locked Nucleic Acid drug platform to identify and select drug candidates against Miragen's proprietary microRNA targets for the treatment of cardiovascular disease.