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XTL Biopharmaceuticals Ltd.
Drug Names(s): Bicifadine
Description: Bicifadine is a balanced SNRI: serotonin and norepinephrine reuptake inhibitor. This inhibition leads to enhanced and prolonged action of norepinephrine and serotonin at nerve synapses.
Deal Structure: In 1998, DOV licensed bicifadine from Wyeth-Ayerst.
In October 2003, DOV announced that it has agreed with Elan to purchase 100% ownership of the parties' joint venture operating company established in 1999 to develop controlled release formulations of bicifadine and ocinaplon.
In January 2007, DOV Pharmaceutical announced an exclusive, worldwide license agreement with XTL Biopharmaceuticals for the development and commercialization of bicifadine. Under the terms of the agreement, DOV will receive an upfront payment of $6.5 million, of which $5.0 million will be paid to Wyeth as a result of the acceleration of a milestone payable from DOV to Wyeth pursuant to the parties' license agreement for bicifadine. Additionally, XTL will make a $1.0 million payment to DOV upon successful transfer to XTL of the IND and certain program documentation. The total deal terms exceed $130.0 million, with escalating low double-digit royalties on annual net sales of bicifadine. XTL will...See full deal structure in Biomedtracker
Partners: Euthymics Bioscience, Inc. Pfizer Inc.
Pink Sheet DOV focus shifts away from bicifadine
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