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Article: Genzyme Purchasing Rights In Ceregene Parkinson's Deal.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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West Coast Editor
Ceregene Inc. is keeping U.S. and Canadian rights to its Phase II drug for Parkinson's disease and getting $25 million up front plus as much as $125 million in milestone payments, along with 50 percent of worldwide Phase III costs covered, through a deal with Genzyme Corp, which will pay royalties on sales in other territories.
Genzyme "appreciates the ups and downs of gene therapy," said Jeffrey Ostrove, president and CEO of San Diego-based Ceregene. Those have been "mostly down, no question about it," he added - but Ceregene might have found something that works.
"We deliver extremely small volumes of our product, as ...
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