IHI Corp., Protein Sciences, UMN Pharma, Astellas deal
Protein Sciences expanded and amended a 2006 deal that gave UMN exclusive manufacturing and marketing rights to FluBlok and PanBlok in Japan. Under the expansion, UMN gains exclusive rights to commercialize the vaccines in China, Hong Kong, Korea, Singapore and Taiwan. Protein Sciences received an upfront payment from UMN and is eligible for milestones and high single-digit royalties.
Protein Sciences also amended the agreement to allow UMN to enter into deals with Astellas and IHI. Astellas will support further Japanese development and commercialization of the vaccines, while IHI will help UMN establish a manufacturing facility in Japan. Protein Sciences said it would receive a portion of an upfront payment UMN receives from Astellas and is also eligible for a portion of the milestones and double digit royalties. UMN will retain manufacturing rights. Protein Sciences said further financial terms were not disclosed, but said that the deals were worth "tens of millions"(see BioCentury, Sept. 4, 2006). ...