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Eleven Biotherapeutics eligible for milestone payment after EBI-031 IND application becomes effective
Eleven Biotherapeutics’ investigational new drug application for EBI-031, an interleukin-6 antagonist antibody technology, has become effective, which entitles the company to receive a $22.5 million payment from Roche, according to a press release. Eleven and Roche entered an exclusive license agreement in June regarding the development and commercialization of EBI-031 and other IL-6 antagonist antibody technologies for the treatment of ocular diseases. The $22.5 million payment is part of the $262.5 million that Eleven may be eligible to receive upon achieving regulatory, development and commercialization milestones.