Under the expanded agreement, Amgen will receive exclusive worldwide rights to develop and commercialize Biovitrum’s small molecule 11beta-HSD1 enzyme inhibitors for the treatment of metabolic diseases and certain other medical disorders.
The original development and marketing collaboration agreement, announced in September 2003, provides Amgen the exclusive right to commercialize products in North and South America, the European Union, Australia and New Zealand. Under the expanded agreement, Amgen receives exclusive worldwide rights to commercialize all developed products, while Biovitrum retains co-promotion rights in the Nordic region for all products developed.
Amgen will pay an undisclosed amount for the upfront payment related to the expanded licensed territory. Amgen will also fund and conduct all further development and commercialization activities worldwide.
Biovitrum may receive additional milestone payments related to development progress and regulatory submissions for metabolic diseases. Once a product has been approved, Biovitrum will receive tiered royalties on future worldwide sales of all products arising from the agreement.
“Amgen has proven to be an excellent partner for our 11beta-HSD1 enzyme inhibitor program and we are very happy to expand this collaboration,” said Mats Pettersson, CEO of Biovitrum. “We are confident that Amgen will remain a strong and committed partner for completing development of this innovative approach for helping those suffering from type 2 diabetes and related disorders.”