Eli Lilly, Cardiome agree in-licensing deal on GED-aPC drug candidate |
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Mon, 30 Apr 2007 18:09
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LONDON (Thomson Financial) - Canadian pharmaceutical company Cardiome Pharma Corp said it has signed an exclusive in-licensing agreement with Eli Lilly and Company for GED-aPC, a clinical-stage drug candidate, where Cardiome has been granted exclusive worldwide rights to GED-aPC for all indications.The financial terms of the agreement include an up-front payment of 20 mln usd payable to Lilly and development milestones of no more than 40 mln usd, if certain pre-defined clinical milestones are achieved.Lilly will also be entitled to royalties if the molecule is ultimately commercialised.Cardiome said it estimates the clinical costs of the GED-aPC program will be about 5 mln usd in 2007.The company said it intends to initially develop GED-aPC for cardiogenic shock, a life-threatening form of acute circulatory failure due to cardiac dysfunction, which is a leading cause of death for patients hospitalised following a heart attack.tf.TFN-Europe_newsdesk@thomson.comrwCOPYRIGHTCopyright 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.
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