Boehringer, Zealand enter cardio-metabolic deal
Boehringer Ingelheim GmbH (Ingelheim, Germany) and Zealand Pharma A/S (CSE:ZEAL) partnered to discover and develop therapeutic peptide candidates against an undisclosed cardio-metabolic target from Zealand's preclinical portfolio.
Under the nearly five-year deal, Boehringer will be responsible for and fund preclinical and clinical development as well as commercialization, and will have exclusive, worldwide rights to develop and commercialize any resulting products. Zealand retains co-commercialization rights in Scandinavia and is eligible to receive up to EUR 295 million ($396.2 million) in milestones for the first product developed, plus research funding and tiered royalties. The company, which expects payments of EUR 5.6 million ($7.5 million) in 2014, is also eligible for additional undisclosed milestones for subsequent compounds developed. Zealand was up DKK4.50 to DKK72 on Monday. ...