Biovitrum and Syntonix enter agreement for the joint development and commercialization for the treatment of Hemophilia
Biovitrum AB and Syntonix Pharmaceuticals, Inc. have entered into a co-development and commercialization agreement for Syntonix' long-acting, recombinant Factor IX product for hemophilia B ("FIX:Fc"). Under the terms of the agreement, Syntonix receives an initial collaboration fee and Biovitrum makes an equity investment in Syntonix.
Biovitrum and Syntonix will jointly develop and commercialize FIX:Fc. Syntonix is responsible for marketing in North America and Biovitrum is responsible for marketing in Europe, Russia and the Middle East. The companies will equally share the costs and profits for development and commercialization of FIX:Fc. Under the terms of the agreement, Syntonix will receive milestone payments and an additional equity investment from Biovitrum based on the progress of the program. In the future, Biovitrum and Syntonix may decide to expand the collaboration to include additional long-acting protein products. Additional financial terms will not be disclosed.
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