Forest acquires rights to Nabriva antibacterial and option to buy firm
US drugmaker Forest Laboratories (NYSE: FRX) says it has entered into an agreement with Austrian biotech firm Nabriva Therapeutics for the development of Nabriva’s lead product candidate, the novel antibacterial agent BC-3781.
Under the terms of the deal, Forest will provide Nabriva with $25 million, and fund and conduct, in collaboration with Nabriva, certain development activities related to BC-3781 over the next 12 months.
During the 12-month period, Forest has the exclusive right to acquire Nabriva. Forest's decision to acquire Nabriva, which was set up in 2006 by German investment organization Global Life Science Ventures with financial backing from Nomura, Wellcome, HBM and Novartis Bioventures (The Pharma Letter February 6, 2006), will be dependent upon certain contingencies. No further financial or other terms were disclosed.
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