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news.Nycomed has confirmed its intention to proceed with the development and commercialization of NPS Pharmaceuticals' drug Gattex, for the treatment of gastrointestinal disorders, outside North America. NPS will pay the company $25 million.
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In addition to the $35 million total up-front payment, NPS has the potential to earn up to $150 million in payments related to the attainment of certain regulatory milestones for the short bowel syndrome (SBS) indication, the successful development of new indications and the achievement of sales-based milestones.
Additionally, the agreement provides for double-digit royalties on Gattex sales in the Nycomed territories. The agreement also provides for development cost sharing on a 50:50 basis for indications which are pursued jointly.
Hakan Bjorklund, Nycomed CEO, said: “We look forward to working with NPS to develop and commercialize Gattex as a new therapy for SBS and potentially for other serious gastrointestinal conditions. We believe Gattex will be an important addition to our product pipeline and expect it to complement our development and marketing capabilities in the gastroenterology field.”