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news.Sweden-based pharmaceutical company 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, and will be discontinuing all other licensing discussions for Ox17.
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During this development work, Orexo will continue negotiations to enter into an appropriate global exclusive licensing agreement including the whole of Orexo’s Ox17 program and related intellectual property. This licensing agreement is anticipated during 2009. The financial terms were not disclosed.
Torbjorn Bjerke, president and CEO of Orexo, said: “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 gastroesophageal reflux disease (GERD) with this partner, and will make further announcements at the appropriate time.”