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Drug Names(s): TGN 255

Description: Flovagatran is an intravenous small-molecule direct thrombin inhibitor. Flovagatran is a synthetic molecule, intended to overcome many of the issues associated with heparin use. It is thought that with flovagatran, anti-coagulation can be rapidly established and stably maintained without dose adjustment. On cessation of therapy flovagatran is rapidly and predictably cleared. Furthermore, the product is approximately 85% non-renally excreted, suggesting that standard doses may be used in renally compromised patients.

Deal Structure: In April 2008, PAION announced that it acquired the world-wide rights to flovagatran from Trigen for an upfront payment of approximately EUR 0.3 million. PAION will be required to make a milestone payment in the event flovagatran receives regulatory approval or is licensed or sold in a major market but will not be required to pay ongoing royalties.

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