Santhera granting Biovail fipamezole rights
Santhera Pharmaceutical Holdings AG (SIX:SANN) will grant Biovail Corp. (TSX:BVF; NYSE:BVF) 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 last week. Biovail will pay Santhera US$8 million up front and a further US$4 million upon closing of the Juvantia deal. Santhera will be eligible for up to US$180 million in milestones related to dyskinesia in PD, plus royalties of 8-15%. Santhera could receive an additional US$20 million in milestones tied to a second indication. ...