Bayer pays upfront $50 million for Orion's prostate cancer candidate ODM-201

2 June 2014

Finland-based drugmaker Orion Corp (Nasdaq OMX: ORNAV) has entered into a global partnership with German pharma major Bayer (BAYN: DE) for the development and commercialization of the compound ODM-201, an investigational novel oral androgen receptor inhibitor.

ODM-201 is in clinical development for the treatment of patients with prostate cancer. Bayer and Orion will start jointly a clinical Phase III program to further evaluate the efficacy and safety of ODM-201 in patients with non-metastatic castration-resistant prostate cancer (nm-CRPC) in 2014. As a result of the agreement Orion has upgraded its full-year outlook estimate for 2014.

Funds will be used to initiate Ph III trial this year

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