PTC Therapeutics and Genzyme restructuring ataluren collaboration

Privately-held PTC Therapeutics and fellow USA-based Genzyme, now part of French drug major Sanofi (Euronext: SAN), have announced restructuring of their collaboration relating to the investigational compound ataluren. Under the original agreement, PTC held commercial rights for the USA and Canada and Genzyme did likewise in all other countries.

Under the restructured agreement, PTC regains worldwide rights to ataluren and Genzyme keeps an option to commercialize ataluren in indications other than nonsense mutation Duchenne/Becker muscular dystrophy (nmDBMD) outside the USA and Canada. PTC will continue to conduct worldwide development in all indications with a near-term focus on late-stage programs in nmDBMD and nonsense mutation cystic fibrosis.

Genzyme entered into a strategic alliance with PTC in July 2008 to develop and commercialize ataluren (formerly known as PTC124), paying an upfront, non-refundable $100 million, with PTC eligible to receive up to $337.0 million in milestone payments as follows.