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news.Biopharmaceutical company Idenix and Novartis Pharma have signed a termination and revised relationship agreement, which restructures the development and commercialization collaboration established in May 2003.
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As part of the revised agreement, Novartis’ optional right to license Idenix’s current and future development-stage drug candidates in any therapeutic area has terminated while it enjoys non-exclusive option to conduct clinical trials with any of Idenix’s and Novartis’ HCV drug candidates.
The agreement further states Idenix will no longer receive royalty or milestone payments from Novartis product sales of Tyzeka /Sebivo (telbivudine) for the treatment of hepatitis B.
Idenix president and CEO Ron Renaud said the agreement affords Idenix flexibility to optimize the value of the company’s pipeline for the benefit of Idenix, shareholders and ultimately HCV patients.
”By regaining the worldwide rights to develop, commercialize and license all of our drug candidates, we believe Idenix will be well-positioned to develop pan-genotypic all-oral direct-acting antiviral combination treatments with potential collaborators," Renaud added.