LONDON Neurodegenerative disease start-up Denali Therapeutics Inc. announced a slew of deals and collaborations, with a potential $1 billion agreement with bispecific antibody specialist F-star Ltd. heading the list.
Under the terms of that deal, F-star will use its bispecific antibody platform to develop technology enabling the delivery of therapeutics across the blood-brain barrier.
Denali will pay $6 million up front and has the option to acquire exclusive rights to the technology for a total of $450 million, provided it does so before starting phase I development of any products that arise as a result.
Alternatively, the South San Francisco-based company can choose to license a number of bispecific antibodies generated by F-star in return for license fees, development, regulatory and commercial milestones payments with a potential aggregate value of $1 billion plus royalties on sales.
While the F-star deal came