Benzinga | Oct 27, 2020 07:36AM EDT

Apellis And Sobi Enter Collaboration For Global Co-development And Ex-US Commercialization Of Systemic Pegcetacoplan In Rare Diseases With Urgent Need For New Treatments; Sobi Will Make An Upfront Payment Of $250M To Apellis, Up To $915M In Milestones

* Sobi obtains global co-development and exclusive ex-U.S. commercialization rights for systemic pegcetacoplan, a targeted C3 therapy

* Apellis retains U.S. commercialization rights for systemic pegcetacoplan and worldwide commercialization rights for ophthalmological pegcetacoplan (geographic atrophy program in Phase 3)

* The companies will jointly advance systemic pegcetacoplan in five parallel registrational programs including two new hematological studies planned to start in 2021 (CAD and HSCT-TMA). These join ongoing registrational programs in hematology (PNH), nephrology (IC-MPGN/C3G) and neurology (ALS)

* Sobi will make an upfront payment of $250 million to Apellis and $80 million in committed development reimbursements over four years and up to $915 million in regulatory and commercial milestones plus tiered