Paion, Lundbeck deal

H. Lundbeck and Paion added second-generation and potential follow-on compounds to an amended 2005 deal granting Lundbeck exclusive, worldwide rights to develop and commercialize desmoteplase (DPSA). The original deal was expanded in 2008 to include exclusive, North America rights to the compound. Under the current amendment, Paion received an upfront payment of €1.5 million ($2.1 million) and is eligible for up to €25 million ($34.7 million) in developmental milestones, plus double-digit royalties. The amendment also increases the milestones Paion is eligible to receive under the original deal to up to €68 million ($94.3 million) from up to €63 million ($87.3 million). Paion retains its option to co-promote desmoteplase in Germany, Switzerland and Austria, while Lundbeck remains responsible for all developmental costs. ...