Sonus Pharmaceuticals has signed a patent licensing agreement with Japanese distributor Chugai Pharmaceutical and ultrasound contrast agent developer Molecular Biosystems. The agreement gives Chugai and MBI nonexclusive rights under certain Sonus patents to manufacture and sell MBI’s Optison ultrasound contrast agent in Japan, South Korea, and Taiwan.
The patent license agreement provides for an initial nonrefundable license fee of $1 million to Sonus on signing and a second $1 million payment in June 2001. The second $1 million payment will be considered nonrefundable if any claims of a Sonus Japanese ultrasound contrast patent application are allowed within a period of two years from the signing of the agreement, according to Bothell, WA-based Sonus.
In addition, Chugai and MBI will pay royalties to Sonus on sales of Optison if and when the agent is approved for marketing in the territories covered under the patent license agreement, according to Sonus. For Sonus, the deal allows the Bothell, WA-based company to realize additional value from its ultrasound contrast patent portfolio, according to president Michael Martino.
In October, Sonus withdrew a new drug application for its EchoGen ultrasound contrast agent from the Food and Drug Administration. The company is now focusing on its drug delivery and blood substitute products.
By AuntMinnie.com staff writers
January 16, 2001
Related Reading
Sonus shocks market by withdrawing EchoGen ultrasound contrast application, October 13, 2000
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