The option concerns the clinical development (expected from 2020) and the commercialization of ELB011, a new first-in-class antibody in the treatment of wet AMD and other retinal vascular pathologies. The innovative mechanism of action of ELB011 makes it possible to consider its development in monotherapy or in combination with anti-VEGF agents, the current standard of care for these pathologies, whose efficacy can diminish in the long term.

Jean-Frédéric CHIBRET, President of the Laboratoires Théa said: «With this program, Théa aims to enlarge its ophthalmology development portfolio in retinal vascular pathologies. The license agreement calls for an upfront payment on signature, milestone payments and royalties on sales. The exercise of the option could take place by end 2018.

In our partnership, ELSALYS BIOTECH, specialized in biotechnology, will remain in charge of the initial steps of preclinical development and in particular the production of batches for toxicology studies and clinical trials. THEA will be responsible for full clinical development and commercialization in ophthalmology.»

Jacques MIZRAHI, VP Research & Development ELSALYS BIOTECH said: «The proof of concept obtained in animal model demonstrates the efficacy of our antibody on a new first-in-class target in ophthalmology and thereby recognizes its therapeutic potential. The drug candidate ELB011 now opens up new therapeutic perspectives for patients with retinal vascular disorders, at least 30% of whom, it is important to remember, do not respond to standard treatment with anti-VEGF. Furthermore, this new approach is fully compatible, in principle, in combination with standard therapies.»

Christine GUILLEN, CEO ELSALYS BIOTECH, added: «We have therefore decided to work with THEA for its ability to develop and commercialize ELB011 rapidly. This agreement presents exciting revenue opportunities which will contribute to the financing of our further programs.»

ELSALYS BIOTECH is advised by Willy Mathot Attorney within the framework of this transaction.