Singapore: Daiichi Sankyo and Amplimmune have entered into a strategic collaboration to develop a new therapeutic protein, AMP-110 (B7-H4 fusion protein), a potential immune modulation therapy for autoimmune diseases. This proprietary, first-in-class biologic works by blocking inflammatory T cell differentiation. The parties expect to initiate a phase I clinical study for the compound for the treatment of an autoimmune disease indication during the first half of 2013.

Under the terms of the agreement, Daiichi Sankyo will pay Amplimmune an undisclosed option fee and provide more than $50 million to reimburse past and planned R&D costs for AMP-110, including funding for future development through a phase II. Amplimmune also will be eligible to receive additional program milestone payments during the collaboration period. Through the phase II study, Daiichi Sankyo will have an exclusive option to acquire the AMP-110 program.

Amplimmune will be responsible for manufacturing clinical supplies, regulatory filings and conducting clinical trials through a point-of-care (POC) study in autoimmunity. Amplimmune and Daiichi Sankyo expect to collaborate on research to further elucidate the characteristic of AMP-110 and to identify potential biomarkers to predict patient response to AMP-110. If Daiichi Sankyo exercises its exclusive option to acquire the AMP-110 program, then following such acquisition Daiichi Sankyo will be solely responsible for all future development, manufacturing and commercialization.

"This collaboration strengthens our commitment to working with partners that are at the forefront of science," said Dr Glenn Gormley, global head of R&D and senior executive officer, Daiichi Sankyo. "Immune modulation therapy is one of the exciting areas of autoimmune disease research that has the potential to meet an unmet medical need. As a Global Pharma Innovator, identifying and meeting unmet medical needs is an important part of Daiichi Sankyo's mission. We are excited to start with the first trial."

"We are very pleased to be collaborating with Daiichi Sankyo on AMP-110," said Mr Michael S Richman, Amplimmune's president and CEO. Mr Richman continued, "This unique transaction allows Amplimmune to collaborate with an important and well-respected partner and positions the program for an acquisition that will provide significant value for both Daiichi Sankyo and our shareholders."