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Xenon Enters Into Anemia Collaboration With Roche
Xenon to Receive $7 Million for Equity, and Could Potentially Receive $44 Million From Research Funding and Milestone Payments

12 Dec 2006 - Xenon announced a partnership with Roche to discover and develop protein therapeutics targeting hemojuvelin (HJV) as a novel approach for the treatment of anemia of inflammation. Xenon discovered HJV as the defective protein underlying Juvenile Hemochromatosis and this protein appears to play an important role in the regulation and availability of iron for red blood cell production.
 
Xenon and Roche have entered into an exclusive worldwide research and license agreement to jointly research protein-based inhibitors of HJV. In addition to the research and license agreement, the Roche Venture Fund has purchased $7 Million of Xenon stock.
 
The research term is for 2 years and upon the achievement of a series of research, development and regulatory milestones, Xenon may be eligible to receive payments of up to $44 Million for the first product and further payments for subsequent products. Roche will also pay Xenon undisclosed royalties on sales of resulting products, and Xenon has retained an option to co-promote therapeutic products in Canada. Further, the collaborative agreement provides Roche with an option to commercialize HJV-based diagnostics, as well as an option to license small molecule inhibitors of HJV that Xenon develops.