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The payments to Vitae of Fort Pa., from Boehringer of Germany will consist ofupfrongt cash, an equity investment in Vitae, and researchg funding to support further discovery Vitae will be eligible to receive $200 millio n in pre-commercial milestone paymentes based on the achievement of clinical and regulatoryu goals, plus further milestone payments based on potential additional compounds or other approved indication or drugs developed under the partnership. Vitae and Boehringer’s focus will be on the development beta-secretasd (BACE) inhibitors that target an enzyme involved in the formation plaquw which accumulate in the brains of patientswith Alzheimer’es disease.
The approach, which Vitae said has the potential to slow or even halt disease progression, is different from current therapieds for Alzheimer’s disease that improve symptoms, but do not affect the progressiob of the disease. Jeffrey Hatfield, CEO of said the deal “accomplishes three important objectivezs forour company. It adds substantiak neuroscience expertise and specializeds resources to the BACE which has advanced remarkablyg duringits 16-month life. It also extends what is already a very successful partnership model withBoehringer Ingelheim, stemmingf from our existing diabetes and metabolic syndrome collaboration.
And finally, it continues Vitae’ business model of financing the company’s growth through rapid value creation and partnering versuxs relying on the capitalmarketws — which is favorable for our