Does anyone still use this thread? Great news this morning!
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Cypress Bioscience Announces Partnership With Fresenius AG; Definitive
Licensing and Distribution Agreement for the Prosorba Column Includes
Equity Investment and Profit Sharing
Business Wire - March 08, 1999 09:01
SAN DIEGO--(BW HealthWire)--March 8, 1999--Cypress Bioscience Inc.
(Nasdaq:CYPB) announced today that it has signed definitive agreements
covering its partnership with Fresenius AG of Bad Homburg, Germany and
its United States (U.S.) subsidiary Fresenius Hemotechnology Inc. (FHI)
of Concord, Calif.
The agreement provides Fresenius with an exclusive license to distribute
the Prosorba(R) column, a treatment for rheumatoid arthritis (RA), in
the U.S., Europe and Latin America and, subject to certain conditions,
Japan and select Asian countries. The partnership is intended to
accelerate commercialization of the Prosorba column into the
rheumatology market, and to broaden the availability of Prosorba column
treatments. Financial terms include an upfront equity investment by
Fresenius, license payments of up to $54 million based on sales, and a
line of credit extended to Cypress to support the product launch and
manufacturing scale-up. |
