Ultrasound contrast developer Acusphere of Watertown, MA, has received an accelerated payment of $150,000 from its European marketing partner in connection with its AI-700 contrast agent.
Nycomed Danmark made the payment to Acusphere to fund activities related to creating a brand name and reserving trademark protection for AI-700. The amount is the first payment of up to $58 million in milestone-based license fees that Acusphere can achieve under its relationship with Nycomed.
Nycomed has already paid Acusphere $9 million in up-front fees and R&D funding under the terms of the deal, which was announced in July 2004. AI-700 is in phase III clinical trials for assessing myocardial perfusion in the diagnosis of coronary heart disease.
By AuntMinnie.com staff writers
October 25, 2005
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