Finland-based Biotie Therapies (Nasdaq OMX: BTH1V), which is focused on neurodegenerative and psychiatric disorders, has revealed the outcome of its planned portfolio review following its success earlier in the year with the approval and launch of Selincro (nalmefene) in Europe by Denmark’s Lundbeck (LUN: CO) and the exercise by Belgium’s UCB (Euronext Brussels: UCB) of its license for tozadenant (SYN115), for which Biotie received a $20 million milestone.
The review establishes the best way for Biotie to maximize value from its current products and introduces a new strategy under which the company will use its relatively strong financial position to seek additional pipeline opportunities, including those that it could potentially develop itself through to regulatory approval and beyond. For the past few years, Biotie has successfully operated a strategy built around search, profile and partner to bring novel products to market. This strategy has to date delivered development and commercialization deals for:
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