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Swedish Orphan Biovitrum

Drug Names(s): multi-subtype, natural human alpha interferon

Description: Multiferon is a highly purified, multi-subtype, natural human alpha interferon derived from human white blood cells.

Deal Structure: In April 2007, Viragen announced that a licensing agreement has been completed with Swedish Orphan International AB, granting exclusive marketing rights to Multiferon for the European Union. Under terms of the agreement, Viragen received approximately $2 million (1.5 million euro) as an up-front license fee and will serve as the sole manufacturer of the product. Swedish Orphan International will pay Viragen for Multiferon at an agreed upon sales price, and, in addition, Viragen will receive double-digit royalties from Swedish Orphan International on their net sales.

In October 2007, Viragen filed for bankruptcy and announced liquidation of its assets.

In November 2009, Biovitrum and the shareholders of Swedish Orphan reached an agreement under which Biovitrum will acquire 100 per cent of the shares and warrants in Swedish Orphan. The new group will be called Swedish Orphan Biovitrum.

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