Business Services Industry
BioTie Therapies Corporation starts collaboration with Roche
Nordic Business Report, Dec 20, 2004
NORDIC BUSINESS REPORT-20 December 2004-BioTie Therapies Corporation starts collaboration with Roche(C)1994-2004 M2 COMMUNICATIONS LTD http://www.m2.com
Finnish pharmaceutical company BioTie Therapies Corporation said on Monday (20 December) that it had entered into a collaboration and option agreement with the Swiss healthcare group Roche to develop BioTie's proprietary small molecule vascular adhesion protein-1 (VAP-1) programme.
Under the terms of the agreement, Roche would contribute its expertise to BioTie's development of VAP-1 small molecule inhibitor candidates.
At defined stages, Roche would have exclusive option rights to license any VAP-1 inhibitor candidate worldwide, excluding Japan, Taiwan, Singapore, New Zealand and Australia.
By extending its option rights to phase IIb, Roche could pay BioTie EUR5m and BioTie would retain all rights to any compounds developed until a licence is granted to Roche.
One euro (EUR) is worth approximately 0.70 British pounds (GBP).
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