German pharmaceutical firm Schering and contrast agent developer Epix Medical have signed an agreement assigning the Berlin-based company exclusive rights to co-develop, manufacture, and market Epix’s MS-325 MRI agent in Japan.
Schering had held worldwide sales and marketing rights to MS-325 outside of Japan through a June 2000 agreement. Currently in phase III clinical trials, MS-325 is targeted for the diagnosis of peripheral vascular disease, according to Epix.
Under terms of the Japanese rights agreement, Schering will pay Cambridge, MA-based Epix $3 million in up-front and additional milestone payments. Concurrently, Epix re-acquired the rights to the Japanese market for MS-325 from Daiichi Radioisotope Laboratories for $2.8 million in up-front fees and additional milestone payments. Daiichi will also receive a royalty on net sales of the agent in Japan.
January 9, 2001
Related Reading
Epix agent may enable detection of blood clots on MRI, November 14, 2000
Schering, Epix, Mallinckrodt exchange rights for cardiac MRI agent, June 9, 2000
Copyright © 2001 AuntMinnie.com
