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Vansen Pharma Inc.

Drug Names(s): gemifloxacin mesylate

Description: Merus Labs would not disclose the quarterly sales for Q1 2012 nor Q3 2012 (Q2 2012 $0.5MM, Q4 2012 $0.7MM). Per the company’s Feb 2013 corporate presentation, net sales for 2012 were $2.7MM. However, the representative stated that as of Q4 2012, revenues will be disclosed.

The active ingredient of Factive is gemifloxacin, an antibiotic of the quinolone family. It acts by inhibiting DNA synthesis through the inhibition of both DNA gyrase (a type II topoisomerase) and topoisomerase IV (TOPO IV), enzymes essential for bacterial DNA processing and organism growth.

Deal Structure: GeneSoft and LG
After the merger of SmithKline Beecham and Glaxo Wellcome, GSK returned all rights to Factive developer LG Life Sciences of Seoul, Korea. Genesoft acquired North American and European rights from LG in October 2002.

Oscient (Genome and Genesoft) and LG
Genome Therapeutics and Genesoft Pharmaceuticals merged to form Oscient Pharmaceuticals. Oscient Pharmaceuticals amended its license and option agreement with LG Life Sciences for Factive. The amended agreement includes a reduction of future royalties payable to LG Life Sciences at certain Factive revenue levels in territories covered by the agreement.

While specific terms are not disclosed, as part of the amended agreement the Company will make a one time cash payment of $2 million to LG Life Sciences, recorded in the first quarter of 2005. The modified agreement calls for an $8 million increase in milestone payments to LG Life Sciences, which are payable as certain salesthresholds for Factive...See full deal structure in Biomedtracker

Partners: LG Life Sciences Ltd. The Menarini Group

Factive News

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