Orion, Bayer partner for ODM-201 for prostate cancer

Orion Corp. (HSE:ORNAV; HSE:ORNBV) and Bayer AG (Xetra:BAYN) partnered to co-develop and commercialize Orion's ODM-201, which has completed a Phase I/II trial in metastatic castration-resistant prostate cancer (CRPC). Orion will receive EUR 50 million ($68 million) up front and is eligible for undisclosed milestones, plus royalties. Bayer will contribute "a major share" of future development costs for ODM-201, and Orion will be responsible for manufacturing the product. This year, the partners plan to jointly start Phase III testing of the oral androgen receptor inhibitor to treat non-metastatic CRPC. Bayer has exclusive, worldwide commercialization rights, and Orion retains the option to co-promote ODM-201 in Europe. ...