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news.ProMetic Life Sciences has signed a definitive license agreement for the development of two hyperimmunes with Kedrion.
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Terms of this agreement call for upfront and milestone payments, as well as service fees to ProMetic amounting to $2 million over the next 12 months.
Potential revenues to ProMetic from hepatitis B hyperimmune are to exceed $30 million annually, and are derived from royalties on Kedrion sales in Europe and ProMetic sales in North America, which are expected to commence in 2011. The first product to be developed will target the hepatitis B hyperimmune market which is currently estimated in Europe and in the US to be at $200 million and is expected to be at $400 million by 2015.