Amgen and Biovitrum expand existing license agreement for innovative treatment of type 2 diabetes and other metabolic disorders
Amgen and Biovitrum AB announced that they have expanded their existing agreement under which Amgen will now receive exclusive worldwide rights to develop and commercialize Biovitrum's small molecule 11(beta)-HSD1 enzyme inhibitors for the treatment of metabolic diseases and certain other medical disorders. The most advanced compound in this collaboration is currently in early clinical development.
The original development and marketing collaboration agreement, announced in September 2003, provides Amgen the exclusive right to commercialize products in North and South America, the European Union, Australia and New Zealand. Under the expanded agreement, Amgen receives exclusive worldwide rights to commercialize all developed products, while Biovitrum retains co-promotion rights in the Nordic region for all products developed.
Amgen will pay an undisclosed amount for the upfront payment related to the expanded licensed territory. Amgen will also fund and conduct all further development and commercialization activities worldwide. Biovitrum may receive additional milestone payments related to development progress and regulatory submissions for metabolic diseases. Once a product has been approved, Biovitrum will receive tiered royalties on future worldwide sales of all products arising from the agreement.
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