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news.Healthcare investment firm Cowen Healthcare Royalty Partners has paid a net sales milestone of $2.5m to Aeterna Zentaris.
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The milestone was paid pursuant to the previously announced sale to Cowen Royalty of Aeterna Zentaris‘ rights to royalties on future net sales of Cetrotide, covered by the Aeterna Zentaris’ license agreement with Merck Serono, and was contingent on 2010 net sales of Cetrotide reaching a specified level.
Cetrotide was the first luteinizing hormone-releasing hormone antagonist treatment, administered to prevent premature ovulation in order to increase fertility success rate.
It was launched in Europe in 1999 and in the US in 2001.
Cetrotide is currently marketed worldwide by Merck Serono, except for Japan where it is marketed by Nippon Kayaku and Shionogi.
Aeterna Zentaris president and CEO Juergen Engel said they are pleased to have reached this $2.5m milestone which will be incremental to advance perifosine, AEZS-108 and other oncology compounds from our extensive product pipeline.