|
...clinical trial program, which in a Phase I /II study currently underway at University of California, San Francisco (UCSF). Genzyme will make an upfront cash payment of $12 million to Avigen, with additional milestone payments and royalty payments on all products developed under Avigen's comprehensive AAV intellectual property (IP) portfolio, including the current Parkinson's disease program.
"This agreement marks a significant milestone in Avigen's strategic move from a gene therapy company to a pharmaceutical company focused on small molecule therapeutics to treat neurological disorders," said Kenneth G. Chahine, Ph.D., J.D., Avigen's President and CEO. "The sale of Avigen's AAV assets makes sense at multiple strategic and financial levels and represents the achievement of the first of three critical goals we first presented in April when we announced Avigen's strategic shift."
Dr. Chahine continued, "The second goal was to significantly reduce operational expenses by eliminating...
NOTE: All illustrations and photos
have been removed from this article.
More articles from BIOTECH Patent News
Michigan Technological University obtains United States patent., December 01, 2005
BioMarin obtains United States patent.(BioMarin Pharmaceutical Inc.)(B..., December 01, 2005
Japan Science and Technology obtains United States patent.(for mesophi..., December 01, 2005
Department of Health and Human Services obtains United States patent., December 01, 2005
Ravgen obtains United States patent.(for sequence determination of loc..., December 01, 2005
Looking for additional articles?
Search our database of over 3 million articles.
Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication
name or publication date.
About Goliath
Whether you're looking for sales prospects, competitive information, company
analysis or best practices in managing your organization,
Goliath can help you meet your business needs.
Our extensive business information databases empower business
professionals with both the breadth and depth of credible,
authoritative information they need to support their business
goals. Whether it be strategic planning, sales prospecting,
company research or defining management best practices -
Goliath is your leading source for accurate information.
|
