Biovail, Santhera deal

Santhera will grant Biovail U.S. and Canadian rights to fipamezole ( JP-1730), an adrenergic receptor alpha 2 (ADRA2) antagonist expected to start Phase III testing in 2011 treat dyskinesia in patients with Parkinson's disease. Santhera will gain fipamezole through its pending acquisition of Juvantia Pharma Ltd. (Turku, Finland), which was announced Aug. 17. Biovail will pay Santhera $8 million up front and a further $4 million upon closing of the Juvantia deal. Santhera will be eligible for up to $180 million in milestones related to dyskinesia in PD, plus royalties of 8-15%. Santhera could receive an additional $20 million in milestones tied to a second indication. Santhera retains co-promotion rights in the U.S. ...