H. Lundbeck A/S (OMX: LUN) acquires Paion AG’s (FWB: PA8) remaining rights to desmoteplase in a 20.1 million Euro deal. Lundbeck had acquired most of the global rights in the years past. Paion had retained some rights to participate in commercializing in German-speaking countries. It now aims to focus in specialty pharma strategy in anaesthesia and says its negotiating position for partnering of i.v anaesthetic/sedative candidate Remimazolam is considerably improved as a result of this transaction.
Desmoteplase is the most fibrin-specific thrombolytic agent known today. It is in phase III development for the treatment of patients who have suffered an acute ischaemic stroke 3-9 hours ago. Two of the three phase 3 studies of the plasminogen-activator have enrolled over half of the target number of patients, with the first study expected to be completed in H1 2013.
Paion had an agreement in place with Bayer Pharma AG. This will also transfer to Lundbeck as a part of the transaction. Lundbeck says it is to pay single-digit royalties on sales and ”insigificant milestones” to Bayer. Lundbeck expects to file MAA and NDA in H1 2014, although it does consider the project as high-risk. The fast-track designated drug candidate is genetically engineered version of a protein found in the saliva of the vampire bat.
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