Zealand to get 3 million euros in milestone payments from Boehringer Ingelheim
Zealand Pharma A/S (Nasdaq Copenhagen: ZEAL) on Friday said German drugmaker Boehringer Ingelheim will pay 3 million euros ($3.4 million) in milestones to the company following the selection of a new peptide therapeutic for advanced preclinical development.
The company said the payment does not change its financial outlook for 2015, which includes expected total milestone payments of 21 million euros.
Under the terms of the agreement, the companies have successfully advanced therapeutic peptides stemming from the collaboration towards preclinical development.
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