Eleven Biotherapeutics Announces Effectiveness of Investigational New Drug Application for EBI-031
Eleven entitled to receive $22.5 million milestone payment for IND effectiveness
CAMBRIDGE, Mass.-- Eleven Biotherapeutics, Inc. (EBIO), a biopharmaceutical company discovering and developing protein therapeutics to treat diseases of the eye, today announced that the company’s Investigational New Drug (IND) application for EBI-031, a humanized monoclonal antibody that potently binds interleukin-6 (IL-6) and inhibits all known forms of IL-6 cytokine signaling, for treatment of ocular diseases, has become effective. As a result of the achievement of this milestone, Eleven is entitled to receive a $22.5 million payment from F. Hoffmann-La Roche Ltd. and Hoffmann-La Roche Inc. (Roche) pursuant to the terms of its license agreement with Roche.
- Published: 08 July 2016
- Written by Editor