Pharmacopeia gets $1M Biovitrum milestone
The USA's Pharmacopeia has delievered an advanced lead to one of Swedish drugmaker Biovitrum's programs in diabetes, triggering a $1.0 milestone payment as part of their R&D collaboration.
Under the terms of the companies' accord, which is focused on multiple targets, Pharmacopeia is entitled to receive further payments from Biovitrum as collaboration programs pass through preclinical and clinical development milestones, as well as royalties on eventual product sales. Biovitrum is solely responsible for the further development and commercialization costs once all collaboration products are handed over by Pharmacopeia.
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