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Vanda Pharmaceuticals, Inc.

Drug Names(s): tasimelteon

Description: Tasimelteon is a melatonin agonist. Receptors to melatonin help regulate sleep-wake cycles, among other functions.

Deal Structure: In June 2004, Vanda licensed tasimelteon from Bristol-Myers Squibb (BMS). In consideration for the rights to develop and commercialize the compound, Vanda paid a $500,000 non-refundable fee and is also obligated to make additional payments upon the achievement of specific clinical and commercial milestones, as well as the payment of product royalties based on net sales.

In April 2010, Vanda and BMS entered into an amendment to its 2004 agreement by and between Vanda and BMS relating to certain compounds, including tasimelteon. Under the amendment, the parties extended the deadline by which Vanda must enter into a development and commercialization agreement with a third party for tasimelteon until the earliest of: (i) the date mutually agreed upon by both parties following the provision by Vanda to BMS of a full written report of the Phase III clinical studies on which Vanda intends to rely for filing for marketing authorization for tasimelteon in its first major market country...See full deal structure in Biomedtracker

Partners: Bristol-Myers Squibb Company

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