Lundbeck expands accord with PAION for desmoteplase follow on products
Aachen, Germany-based biopharmaceutical company PAION AG (FSE: PA8) has expanded its desmoteplase licence deal with existing partner Denmark’s H Lundbeck A/S (LUND: DC) with which it has been collaborating on the ischemic stroke candidate since 2005.
In the new agreement, PAION has granted Lundbeck research rights and access to potential desmoteplase follow-on compounds that were identified by the German firm. In the future, Lundbeck will also be responsible for the patent maintenance. PAION receives a 1.5 million-euro ($2.1 million) upfront payment for the expanded agreement.
25 million-euro milestone on clinical development
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