Issue Date: November 10, 2008
Genzyme Buys Two Stem Cell Therapies
In a deal worth up to $1.3 billion, Osiris Therapeutics has licensed its lead adult stem cell treatments to Genzyme. Osiris granted Genzyme rights to Prochymal, a preparation of cells isolated from healthy bone marrow that is in Phase III trials for treating graft-versus-host disease and Crohn’s disease, and to Chondrogen, which is in a late-stage trial for treating osteoarthritis. In exchange Osiris snares a $130 million upfront payment and could reap hefty milestones and royalties.
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