|Biotech partner:||BTG (UK)|
|Pharma Partner:||Nycomed USA|
|Type of agreement:||* commercialization/ distribution
* marketing/ promotion
|Compound:||Antivenom serum CroFab®(Crotalidae Polyvalent Immune Fab) Antidigoxin antibody DigiFab® (Digoxin Immune Fab)|
|Disease area:||digoxin toxicity or overdose|
|Nature of the agreement:||BTG has signed an agreement with Nycomed US concerning the accelerated transition to BTG on 1 October 2010 of marketing rights to the antivenom CroFab™ and the antidoxin DigiFab™ for treating patients with life-threatening digoxin toxicity or overdose.
Nycomed is currently the exclusive distributor of the products in the US under a contract that ends on 30 September 2010 but provides Nycomed with rights to sell remaining product inventories for up to a further six months.
Under the terms of the new agreement, the companies will cooperate to ensure an orderly transition of the sales, marketing, promotion and distribution functions to BTG and to ensure continued orderly product supply to end users. BTG will gain access to Nycomed's market data, customers and sales force, and from 1 October 2010 BTG will have exclusive rights to market and sell the products.
|Financial terms of the agreement:||BTG will pay Nycomed up to $16.6m (£10.3m - €13.1m), the precise amount depending on the amount of product delivered to and sold by Nycomed before 30 September 2010. BTG anticipates that the expected final payment will be approximately $14.5m (£9.3m - €11.4m).