MedGenesis, Amgen, Biovail deal

Amgen granted MedGenesis exclusive, worldwide rights to glial cell-derived neurotrophic factor (GDNF) protein. Amgen received a high single-digit percentage stake in MedGenesis and an undisclosed upfront payment. Amgen also is eligible for milestones and royalties.

At the same time, MedGenesis entered into a deal with Biovail to co-develop and commercialize GDNF for Parkinson's disease and other undisclosed CNS indications. Biovail will focus on commercialization in the U.S., Europe, and Japan. MedGenesis will receive an undisclosed upfront payment and is eligible for milestones. The companies will share profits 50/50. ...