Biovitrum Sells Obesity Program to AstraZeneca

23-Dec-2009 - Sweden

Biovitrum AB announced that AstraZeneca has acquired all of Biovitrum’s rights to its leptin modulator program aimed at treating obesity. Biovitrum will receive from AstraZeneca an upfront payment of Euro 6M and milestone payments contingent on development progress and sales, as well as single digit percentage royalties. If a product is approved, the agreement allows up to a total of Euro 186M in upfront and milestone payments to Biovitrum. The leptin modulator program is currently in the preclinical phase.

Peter Edman, CSO of Biovitrum, said: "We are very happy that this exciting and completely novel approach to treat obese patients will continue to be developed through AstraZeneca, a company with a long heritage and strong presence in the cardiovascular disease area. We are sure that AstraZeneca will continue to develop the opportunity in a capable way and potentially add new treatment options for obese patients.”

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