Cytogen has signed an agreement with Berlex to reacquire marketing rights to its Quadramet pain therapy radiopharmaceutical agent. The Princeton, NJ-based vendor received the North American and South American marketing rights in exchange for an upfront fee and royalties based on future sales.
The transaction is expected to be completed within 90 days, and is subject to Cytogen obtaining any necessary financing. Schering, Berlex’s parent company, had received the marketing rights via a 1998 deal with Cytogen. Schering retains European marketing rights through its CIS Bio International unit.
By AuntMinnie.com staff writersJune 16, 2003
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