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Saturday, February 03, 2007

Protherics AstraZeneca Patent and Know-How License Agreement of December 7, 2005

Protherics AstraZeneca Patent and Know-How License Agreement of December 7, 2005 won the Scrip Awards Licensing Deal of the Year for 2006.

From the Form 6-K of December 8, 2005:
  • currently being prepared for a single phase III registration study in severe sepsis in line with guidance received at an end of phase II meeting with the FDA
  • the initial target indication is severe sepsis
  • AstraZeneca will be responsible for development
  • Protherics will be primarily responsible for manufacturing, including the supply for clinical trials
  • initial payment of GBP16.3 million
  • potential total deal value, excluding royalties, of approximately GBP195 million
  • GBP7.5 million equity investment in Protherics at a30 percent premium
  • AstraZeneca will own approximately 4.3 percent of Protherics
  • GBP171 million payable upon the achievement of milestones
  • no milestone s related to sales performance
  • royalties on global product sales of 20 percent of net sales
  • additional payments for the commercial supply of the product and will invest to expand its manufacturing capacity accordingly.

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