Sobi buys rights to novel neonatology treatment

16 January 2012

Stockholm-based Swedish Orphan Biovitrum (STO: SOBI) has signed a global licensing agreement with the French company Only for Children Pharmaceuticals (O4CP) regarding bumetanide reformulated for the treatment of diuresis and seizures in neonates.

The new drug is currently in clinical Phase II under the European Union financed NEMO project. The first market authorization of the product is expected in 2014.

O4CP will be responsible for obtaining market authorizations and for manufacturing of the drug product. Sobi will be accountable for the commercialization of the product on a global basis. The agreement includes an upfront payment by Sobi of 300,000 euros ($381,420) and potential future milestones of a value up to about 1.7 million euros. O4CP will also receive royalties on future commercial sales.

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