ProMetic Announces Signature of Definitive License Agreement with Kedrion
News Feb 28, 2008
Terms of this agreement call for upfront and milestone payments, as well as service fees to ProMetic. Potential revenues to ProMetic from Hepatitis B Hyperimmune direct sales in North America are to exceed $30 M annually, which are expected to commence in 2011.
The first product to be developed will target the Hepatitis B Hyperimmune market which is currently estimated in Europe and in the U.S. to be at $200 M and is expected to be at $400 M by 2015.
Kedrion has in-licensed ProMetic's technologies for the manufacturing of hyperimmune products in Europe. Royalties, licensing and service fees for the sales of products in Europe will be paid by Kedrion to ProMetic with ProMetic retaining the commercial rights for the fully developed hyperimmune products for the North American market. ProMetic will in turn pay Kedrion royalties on its sales of the hyperimmune products in North America.
The product development program, including the clinical trial designed to meet U.S. and European regulatory requirements will be funded by Kedrion, who will be the holder of the products registration for both markets.
"This agreement with Kedrion will leverage ProMetic's ability to penetrate into the North American hyperimmune product market and expand on our existing revenue base," commented Mr. Pierre Laurin, President and Chief Executive Officer of ProMetic.
Quotient Sciences Acquires Pharmaterials, a UK-based Contract Development and Manufacturing OrganizationNews
Quotient Sciences, the drug development services organization, announces it has acquired Pharmaterials, a contract development and manufacturing organization (CDMO) based in Reading, U.K..READ MORE
BOC Sciences Continues to Enlarge Its Publication Collection Using BOC Sciences ProductsNews
BOC Sciences continues to add more publication items that used BOC Sciences products in their researches to its already existing collection.READ MORE
Chemists Develop Method to Synthesize Drugs From Renewable PrecursorsNews
Researchers have developed a new approach to the synthesis of benzofurans from cheap raw materials.READ MORE