Santhera, Ipsen in fipamezole deal

Santhera Pharmaceuticals Holding AG (SIX:SANN) granted Ipsen Group (Euronext:IPN) exclusive rights outside the U.S., Canada and Japan to develop and commercialize fipamezole ( JP-1730). The deal allows for Ipsen to use data for fipamezole generated by Biovail Corp. (TSX:BVF; NYSE:BVF), which has rights to the product in the U.S. and Canada. Biovail plans to begin Phase III testing of the adrenergic receptor alpha 2 (ADRA2) antagonist in 2011 to treat dyskinesia in patients with Parkinson's disease (PD).

Santhera, which retains rights in Japan, will receive EUR 13 million ($16.5 million) up front and is eligible for EUR 128 million ($162.9 million) in milestones, plus royalties. ...