GW and Otsuka Pharmaceutical Enter Into Global Cannabinoid Research Collaboration

12-Jul-2007

GW Pharmaceuticals and Otsuka Pharmaceutical Co., Ltd. have signed a global cannabinoid research collaboration in the field of central nervous system (CNS) and oncology in order to research, develop and commercialize a range of candidate cannabinoid products.

The cannabinoid research collaboration has an initial term of three years, during which Otsuka will make available a research fund of $9 million, which may be increased from time to time by Otsuka, to cover research activities carried out by GW and its scientific collaborators under this agreement.

The GW-Otsuka collaboration research team, which incorporates senior scientists from both companies, will evaluate a range of GW cannabinoids as drug candidates within the field of CNS and oncology, with a view to selecting the most promising candidates for full clinical development, regulatory approval and global commercialization.

Products selected for full development will be the subject of a license from GW.

Under the terms of each product license, Otsuka will fund the global development and commercialization of such products, and GW will receive license fees, milestone payments and a long term commercial supply price and royalty.

The financial terms of each license are to be agreed at the time of selection of each product for global development.

Other news from the department business & finance

Most read news

More news from our other portals

So close that even
molecules turn red...