Scios & Wyeth-Ayerst have announced an agreement to develop FIBLAST for neurological and cardiovascular disorders.
Wyeth-Ayerst, the pharmaceutical division of American Home Products, will make a $12million upfront payment in cash and will also pay Scios up to $32million in milestone payments upon achievement of all key development events. In addition, Wyeth-Ayerst will provide a $12million line of credit that Scios may draw upon from time to time to fund expansion of its manufacturing facilities for FIBLAST. |