19 June 2013 - 19 June 2013 - Swedish Athera Biotechnologies AB had inked an option agreement with German Boehringer Ingelheim for a preclinical antibody programme focused on atherosclerosis, Athera's majority owner, Karolinska Development (STO:KDEV), said today.

The Swedish company's fully-human monoclonal antibody is intended for the treatment of patients with cardiovascular disease, who are at an increased risk of secondary events and death.

Under the agreement, Athera grants to Boehringer Ingelheim an exclusive option to take over the entire programme. Athera will perform defined preclinical development and a Phase I study for the lead antibody and, following completion of the study, the German company will have an exclusive option to acquire substantially all of Athera's assets and rights relating to the programme. In return for Athera's granting of the option, Boehringer Ingelheim will pay an option fee.

The parties did not disclose specific terms but said that the transaction is in line with market average terms for programmes at similar developmental stages.