Neose BioGeneriX Supply and Option Agreement

From the press release:

"Jan. 28 /PRNewswire-FirstCall/ -- Neose Technologies, Inc. and BioGeneriX AG, a company of the ratiopharm Group, today announced that they have entered into a supply and option agreement that, if the option is exercised, would result in the use of Neose's proprietary GlycoPEGylation(TM) technology to develop a long-acting, next-generation version of a currently marketed therapeutic protein.

Under the agreement, BioGeneriX and Neose will enter into an initial three-month research period. Neose will receive a payment and supply of protein for research purposes. During the research period, BioGenerix may choose to enter into a pre-negotiated research, license and option agreement under which Neose would receive additional upfront and research payments and could receive milestone payments totaling up to $61.5 million, as well as royalties on product sales. Under the research, license and option agreement, BioGeneriX would have the right to an exclusive, worldwide license to use Neose's GlycoPEGylation technology to develop and commercialize a long-acting, next generation version of the undisclosed therapeutic protein."

The Supply and Option Agreement is available here.