Genentech, Inc. is paying an upfront payment of $15 million to co-develop and commercialize BioInvent´s proprietary antibody candidate, BI-204, for the potential treatment of multiple cardiovascular conditions. In addition, BioInvent could receive further milestone payments of up to $175 million as well as royalties on sales in North America.

BI-204 is developed to prevent atherosclerosis and myocardial infarction by blocking a major mediator of vascular inflammation that is believed to lead to the formation of unstable plaque in the vessel wall.

Source: BioInvent