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Celgene Corporation

Drug Names(s): Tinzaparin sodium injection

Description: Innohep is a low molecular weight heparin with antithrombotic properties. It acts as a potent co-inhibitor of several activated coagulation factors, especially factors Xa and IIa (thrombin). Its primary inhibitory activity is mediated through the plasma protease inhibitor, antithrombin.

Deal Structure: Pharmion Corporation announced in July 2002 an exclusive ten year licensing agreement from LEO Pharma to distribute Innohep in the U.S., as well as an exclusive supply and requirements agreement with LEO Pharma for their supply of Innohep. Under its agreement with LEO Pharma, Pharmion made an up-front payment for this license of $7.5 million, up to $2.5 million of which is creditable against royalty payments otherwise due during the period ending March 1, 2005. In addition, Pharmion is obligated to pay LEO Pharma royalties at the rate of 30% on annual net sales of up to $20.0 million and at the rate of 35% of annual net sales exceeding $20.0 million, less in each case its purchase price from LEO Pharma of the units of product Pharmion sells.

Furthermore, the agreement contains a minimum net sales clause that is effective for two consecutive two-year periods. If Pharmion does not achieve these minimum sales levels for two consecutive years, it has the right to pay LEO Pharma...See full deal structure in Biomedtracker

Partners: LEO Pharma A/S

Innohep News

Pink Sheet DuPont Innohep

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