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Business
Bayer is in deal for clot drug
January 9, 2006
| A version of this story appeared in
Volume 84, Issue 2
Bayer has entered a collaboration to codevelop Nuvelo's blood-clot-dissolving enzyme, alfimeprase, now in Phase III clinical trials. Bayer will pay the San Carlos, Calif., firm up to $385 million in milestone payments, including a $50 million up-front cash payment. Bayer will commercialize the product outside the U.S., while Nuvelo retains U.S. rights. Wolfgang Plischke, head of Bayer's pharmaceutical division, says the product complements his firm's existing hematology and cardiology portfolio.
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