Biogen Idec and mondoBIOTECH sign collaboration and licensing agreement to develop and commercialize Aviptadil
Biogen Idec and mondoBIOTECH AG announced the signing of an exclusive collaboration and license agreement for Biogen Idec to develop, manufacture and commercialize Aviptadil, a clinical compound for the treatment of pulmonary arterial hypertension (PAH).
Under terms of the agreement, mondoBIOTECH will receive a $7.5 million upfront payment and up to $30 million in milestones payments for successful development and commercialization of Aviptadil in PAH in the United States (US) and Europe, as well as royalty payments on commercial sales. Separately, Biogen Idec intends to make a minority equity investment of $5 million in mondoBIOTECH during an envisaged initial public offering.
In accordance with the agreement, Biogen Idec will be responsible for the global manufacturing, clinical development, regulatory approval and commercialization of Aviptadil. Biogen Idec intends to finalize the development plan for Aviptadil and initiate additional clinical work in 2007.
Aviptadil is a synthetically produced human peptide (Vasoactive Intestinal Peptide) with Orphan Drug Designation (ODD) status for PAH in the European Community and in the US.
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