Link Biologics and Théa Open Innovation Enter Partnership to Develop Drug Candidate for Dry Eye Disease

Link Biologics Limited and Théa Open Innovation announced that they have entered into an agreement to co-develop Link_TSG6 for the treatment of dry eye disease (DED) and other ophthalmology indications, worldwide excluding Asia.

Link_TSG6 is a biological drug based on human TSG-6, a protein that has an intrinsic role to protect tissues from inflammatory damage. Link_TSG6 has been shown to have potent disease modifying properties in various preclinical models, including models of dry eye disease, according to a news release. Link Biologics was spun-out from the University of Manchester in 2021, based on the research of Professor Tony Day and Doctor Caroline Milner, who are both co-founders of the company.

Under the terms of the license and co-development agreement, in parallel with an equity investment from Théa Open Innovation, Link Biologics will be responsible for all DED research and development up to the end of phase 2 trials, with Théa taking over responsibilities, including commercialization, thereafter. Link Biologics will receive an upfront payment (undisclosed) and reimbursement of research and development costs, and is also eligible to receive up to £216 million, based on development, regulatory, and commercial milestones. The deal additionally includes tiered royalties on future net sales of Link_TSG6 products within the ophthalmology field.

“At Link Biologics, we have a mission to set a new standard of care and transform outcomes for people living with inflammatory and tissue degenerative disorders. Partnering with Théa, a leader in ophthalmology products with a wealth of expertise in preservative-free eye drops, reinforces the value of our asset and accelerates our journey to reach those in need. We are extremely excited to commence this partnership," Reuben Dawkins, Co-Founder & Chief Executive Officer of Link Biologics, said in the news release.