Abbott acquired the license agreement between Jerini US and Kos Life Sciences as part of the company's takeover of Kos Pharmaceuticals. After an in-depth review following the Kos deal, Abbott determined that hereditary angioedema (HAE) drug Icatibant did not strategically fit the company's core areas of therapeutic expertise.
Under the terms of the termination agreement concluded on September 4, 2007, Jerini regains all rights licensed to Kos Life Sciences, including Icatibant's North American commercialization rights in all forms of angioedema as well as its North American development and commercialization rights in other licensed indications.
As part of the termination agreement, Abbott has agreed to pay Jerini an undisclosed amount, and Jerini will pay Abbott undisclosed royalties on North American sales for the first 24 months following product launch.