Protherics to get 10 mln stg milestone payment from AstraZeneca |
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Published
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Mon, 12 Mar 2007 08:49
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LONDON (AFX) - Protherics PLC said it expects to receive a 10 mln stg milestone payment fromAstraZeneca in April which will be included in its results for the financial year ending March 31.The biopharmaceutical company said the payment comes as a result of the successful scale-up of its sepsis therapy CytoFab's manufacturing process to a 600 litre batch size.Following this, Protherics will have got a total of 26.3 mln stg in milestone payments from AstraZeneca since signing the deal in December 2005. Protherics said it may receive up to a further 161 mln stg in milestone payments , in addition to a 20 pct royalty on global net sales of CytoFab.newsdesk@afxnews.comtsk/rarCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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