ARTICLE | Company News

ThromboGenics, Novartis deal

March 19, 2012 7:00 AM UTC

ThromboGenics granted Novartis' Alcon Inc. ophthalmic unit ex-U.S. rights to commercialize symptomatic vitreomacular adhesion (VMA) candidate ocriplasmin. The product is under review in Europe for the indication. ThromboGenics will receive an upfront payment of €75 million ($98.4 million) and is eligible for €90 million ($118 million) in near-term milestones, plus royalties. ThromboGenics said additional milestone payments would bring the total upfront and milestone value to up to €375 million ($491.8 million). ThromboGenics will have a "strategic and focused operational role" in the commercialization of the product in the five largest European markets. The partners will also co-develop ocriplasmin in additional indications, with both companies responsible for development costs. Details were not disclosed. ...