September 19, 2006
Company news from the 09/19/06 News Brief
Pfizer and TransTech Pharma have entered into a license agreement for the development and commercialization of small and large molecule compounds under development by TransTech. These compounds target the receptor for advanced glycation end products (RAGE) and have potential use in the treatment of Alzheimer's disease, a progressive illness that kills nerve cells in the brain afflicting some 18 million people worldwide. Through the collaboration, Pfizer gains exclusive worldwide rights to develop and commercialize TransTech's portfolio of RAGE modulators Under the agreement, TransTech will receive upfront and near-term milestone payments of $155 million and the potential for significant additional milestone payments for the successful development and commercialization of multiple RAGE antagonists in several indications. Biogen Idec and mondoBiotech AG, a private Swiss biotechnology company reached a collaboration and license agreement for Biogen Idec to develop, manufacture and commercialize mondoBiotech’s pulmonary arterial hypertension (PAH) Aviptadil, a clinical compound for the treatment of Under terms of the agreement, mondoBiotech will receive a $7.5 million upfront payment and up to $30 million in milestones payments for successful development and commercialization of Aviptadil in the US and Europe, as well as royalty payments on commercial sales. Separately, Biogen Idec intends to make a minority equity investment of $5 million in mondoBiotech during an envisaged initial public offering. GlaxoSmithKline has reached an agreement with the Russian government to supply HIV drugs at discounted prices. Under the terms of the deal, GSK will supply over 90,000 treatment packs of its medicines Combivir, Epivir and Ziagen to the Russian government by the end of 2006. Germany’s Schering AG has entered into a deal with AstraZeneca to co-develop and market Schering AG's novel breast cancer fighting selective estrogen receptor down-regulator (SERD). Financial terms were not disclosed.Under the terms of the agreement, the companies will jointly develop the novel SERD with AstraZeneca leading the clinical development and Schering leading the non-clinical development and manufacturing activities. The companies will co-promote the product in major territories including the US, the companies said in a joint-news release. AstraZeneca has a presence in anti-hormonal oncology drugs with Arimidex for breast cancer and Casodex for breast cancer.