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MLN519

PAION AG

Drug Names(s): LDP-519

Description: MLN519 is a proteasome inhibitor with anti-inflammatory properties. When blood flow is re-established after an ischemic event such as a stroke (in which the blood supply to a tissue is obstructed), typically an inflammatory response occurs, resulting in significant tissue destruction. MLN519 is designed to act on a key intracellular mechanism that controls the activation of inflammatory molecules.

Deal Structure: In March 2002, Millennium Pharmaceuticals and PAION GmbH announced an agreement to collaborate in the development of MLN519 for patients with stroke and certain other neurological indications.

Under the terms of the agreement, PAION obtains responsibility for development activities of MLN519 including all related costs. Millennium retains the right to opt back into development at any point during clinical development up to product approval. In addition, Millennium retains exclusive commercial rights in North America and parts of Asia while PAION gains exclusive commercialization rights in Europe and in certain Asian countries by paying Millennium certain option payments. Millennium will receive royalties on European sales of MLN519 and PAION will receive royalties from Millennium on sales of MLN519 in all other major markets, excluding Europe. Payments will be made by PAION to Millennium upon achievement of certain clinical milestones. Millennium will make a convertible loan to...See full deal structure in Biomedtracker

Partners: Takeda Pharmaceutical Company Ltd


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