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Biogen And Mondobiotech To Join Together On Hypertension Drug
Jun 25, 2007

Biogen Idec and Mondobiotech AG have signed a special partnership and authorization contract for Biogen Idec to build up a treatment for pulmonary arterial hypertension.

According to recent news, Biogen Idec and Mondobiotech AG have signed a special partnership and authorization contract for Biogen Idec to build up, manufacture and commercialize Aviptadil, which is a treatment for pulmonary arterial hypertension.

As per this contract, Swiss biotechnology company Mondobiotech will get a $7.5 million open payment and about $30 million in milestones payments for the successful development and commercialization of Aviptadil in PAH in US and European region as well as royalty payments on commercial sales. Biogen Idec plans to make a minority equity investment of $5 million in Mondobiotech during an envisaged initial public offering.

Biogen Idec's President and Chief Executive Officer (CEO) said that the licensing opportunity maintains company’s tactical initiative to spread out to new therapeutic categories where the company can leverage their global potential in serving particular medical markets with soaring unmet need.

He also added that Aviptadil has the prospective to be a significant therapy in treating pulmonary arterial hypertension, which is a deadly disease with little efficient treatment options for patients. So, the company looks forward to getting bigger Aviptadil for patients.

Biogen would be in charge for worldwide clinical development, product manufacturing, regulatory authorization and commercialization of Aviptadil. The company intends to confirm the development plan for Aviptadil and start further clinical work in 2007.

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