17 December 2021 - - US-based immunotherapies developer Alpine Immune Sciences, Inc. (NASDAQ: ALPN) and Ireland-based Horizon Therapeutics plc (NASDAQ: HZNP) have inked an exclusive license and collaboration agreement for the development and commercialization of up to four preclinical candidates generated from Alpine's unique discovery platform, the company said.

The overall agreement includes licensing of a lead, potential first-in-class preclinical candidate, as well as a research collaboration to jointly generate additional novel candidates.

These candidates include previously undisclosed multi-specific fusion protein-based therapeutic candidates for autoimmune and inflammatory diseases.

Under the terms of the agreement, Horizon will make an upfront payment to Alpine of USD 25m as well as an equity investment in Alpine of USD 15m at a 25 % premium to the 30-day volume-weighted average share price.

In addition, Alpine is eligible to receive up to USD 381m per program, or approximately USD 1.52bn in total, in future success-based payments related to development, regulatory and commercial milestones as well as tiered royalties on global net sales.

Under the agreement, Alpine will advance candidate molecules to pre-defined preclinical milestones. Horizon will then assume responsibility for development and commercialization activities and costs.

Similar to changes at other peer companies, beginning in 4Q21, Horizon will no longer exclude upfront and milestone payments related to collaboration and license agreements from non-GAAP R and D expense, adjusted EBITDA and other non-GAAP financial measures and has filed a form 8-K TODAY with additional details.

Alpine Immune Sciences, Inc. is committed to leading a new wave of immune therapeutics.

Alpine has entered into strategic collaborations with global biopharmaceutical companies and has a diverse pipeline of clinical and preclinical candidates in development.

Horizon is focused on the discovery, development and commercialization of medicines that address critical needs for people impacted by rare, autoimmune and severe inflammatory diseases.