Sweden's Biovitrum sells obesity program to AstraZeneca for up to 192 million euros

22 December 2009

Anglo-Swedish drug major AstraZeneca has acquired Biovitrum's leptin modulator program, currently in preclinical phase, aimed at treating obesity for an upfront payment of 6 million euros ($8.8 million).

Additionally, privately-held Swedish firm Biovitrum is entitled to receive milestone payments totaling 186 million euros for a possible total of 192 million euros ($281.5 million) contingent on development progress and sales of the resulting product, as well as single digit percentage royalties. The leptin modulator program is currently in the preclinical phase.

Bjoern Wallmark, vice president, Cardiovascular & Gastrointestinal Research at AstraZeneca, said: "AstraZeneca is committed to working towards finding new solutions to health problems that stem from diabetes and obesity, two risk factors for cardiovascular disease. We are pleased that we have obtained this discovery program. It increases the strength of our portfolio of compounds that can potentially lead to medicines that meet the needs of patients."

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