Orexo has signed an exclusive development agreement with “a large healthcare company”, providing for joint development within Orexo’s OX17 program for gastroesophageal reflux disease (GERD), and will be discontinuing all other licensing discussions for Ox17.
During this development work, Orexo will continue negotiations to enter into an appropriate global exclusive license agreement including the whole of Orexo’s Ox17 program and related intellectual property. This license agreement is anticipated during 2009. The financial terms were not disclosed.
Torbjörn Bjerke, President and CEO of Orexo “I am delighted to announce this new development agreement, although we are unable to disclose many details at this time. We expect to be able to create a first choice therapy for GERD with this partner, and will make further announcements at the appropriate time”.
My top two guesses are AstraZeneca and Takeda… got other ideas; leave them in the comments.
(Via Business Wire)
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Eben is a highly caffeinated business development associate at a small, cash sensitive pharmaceutical company somewhere in Massachusetts. He enjoys cliche-less banter, compartmentalization, non-equilibrium thermodynamics and NPV analysis. Agree or disagree with what he's posted? He encourages comments.
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