Gil Blum: Maybe a simple question here. So given the number of pretty large indications for autoimmunity, even in the liver, how much of this is going to be finding a partner?
Carsten Brunn: Yes, Gil, that’s a good question as well. It is indeed a large area, and we’ve spent a significant amount of time kind of prioritizing indications — and we kind of landed on the liver as an interesting area. As Peter mentioned, it’s — we think its low-hanging fruit because into accumulation in the liver, there are indications that we can execute on as a company all the way through commercial actually. I mean these are all attractive, but still kind of orphan-type indications that we can execute on. At the same time, there are larger indications, which are of interest. We might potentially do an initial proof-of-concept study, but then you would look for partnerships to see this through for sure, given the complexity that this specific disease expertise, but also the cost of the programs.
Gil Blum: Excellent. And maybe just to organize things for us here. What sort of milestones are you expecting on a positive readout from the pivotal studies for Sobi here?
Carsten Brunn: Yes. Good question as well. So — and I think we’ve guided in the past. So just to remind you of the overall deal terms. So we licensed the asset to Sobi in 2020, received $100 million upfront. We also received $630 million in milestones. That’s broken down $80 million in regulatory and development and $550 million in commercial. Out of the $80 million, we have received $15 million so far. So we were still eligible to receive $65 million. We haven’t broken out to which event these are tied to. And then also, we are eligible to receive royalties in the double digits as well.
Operator: The next question comes from Tiffany Marchell of William Blair.
Tiffany Marchell: This is Tiffany on for Raj. For the IgG Protease Xork, can you maybe discuss a bit how you and Astellas plan to use Xork prophylactically for preexisting antibodies? And do you imagine there’s still a certain cutoff in the level of preexisting antibodies that it might be effective for or really just how much do you imagine Xork could expand the treatable population here?
Carsten Brunn: Yes, that’s a great question. And obviously, I can’t comment how Astellas plans to develop this, but I can just comment on how we kind of view the approach. And so there’s interesting data from IgG Protease that they basically cleave preexisting antibodies, which prevent dosing. And specifically, we’re looking here patients had a natural AAV infection. So not necessarily patients that were exposed to an AAV gene therapy get very high titers in the thousands. We’re looking to hear more at natural AAV infections. And that inflicts between 30% to 70% of all patients had a natural AAV infection, not eligible to receive gene therapy. So we think that’s very attractive, both from a patient perspective but also a commercial perspective, you potentially double the number of patients eligible and that definitely played a part of why Astellas license Xork.
Tiffany Marchell: Great, that makes sense. And I guess for Xork, do you also plan to share any additional preclinical data this year on that?
Carsten Brunn: So we haven’t guided to that. I think we have shared some of the initial data. But I mean, at this point, we don’t — we have not guided specifically to share additional data.
Operator: The next question comes from Boobalan Pachaiyappan of H.C. Wainwright.
Boobalan Pachaiyappan: This is Boobalan. Can you hear me okay?
Carsten Brunn: Yes. Boobalan, we can hear you. Thank you.
