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Pharmaceuticals
BioTie signs with Lundbeck and Roche
December 4, 2006
| A version of this story appeared in
Volume 84, Issue 49
The Finnish biotech company BioTie Therapies has granted the Danish firm H. Lundbeck rights in much of the world to nalmefene, a substance-abuse treatment under evaluation by British medical authorities. BioTie will get an execution fee of $20 million and is eligible for up to $115 million in milestone payments. Separately, Roche will pay BioTie $6.5 million for an option to license BioTie's antibody program targeting vascular adhesion protein-1 in inflammatory diseases.
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