elbion NV has entered into a research and license agreement with Wyeth Pharmaceuticals (10944776) on its phosphodiesterase 10 (PDE10) program for CNS disorders, focusing initially on schizophrenia.
The terms of agreement include:
- elbion will get an upfront payment, milestones and research funding potentially totalling up to $110 million over the life of the agreement.
- Wyeth will pay elbion royalties on worldwide annual net sales of products developed under the agreement.
- elbion and Wyeth will develop new chemical entities for the inhibition of PDE10 drawing on elbion's tremendous expertise in developing new leads and compounds for PDE targets.
- Wyeth will be responsible for further clinical development of selected compounds.
The research work will be carried out at elbion's R&D facility at Radebeul, Germany and will also involve scientists at elbion's headquarters in Leuven.
Wyeth Pharmaceuticals is a division of Wyeth (NYSE: WYE) while elbion NV (formed in 2006 through the merger of elbion AG and 4AZA Bioscience NV) is a European specialty pharmaceutical company focused on neurology and immunology.
Source: elbion NV (a pdf file)
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