Weston Medical signs major Intraject deal with Abbott Labs

19 July 2001

Weston Medical Group of the UK has entered into an exclusive, worldwidelicensing agreement with Abbott Laboratories whereby the firms will conduct studies to evaluate the latter's needle-free Intraject technology for potential use with compounds in Abbott's pipeline.

If Abbott exercises an option granted under the terms of the deal, it would have an exclusive right to utilize the Intraject technology for up to 11 therapeutic targets throughout the next 10 years. Weston says that potential annual peak sales for these clinical candidates is in excess of $500 million.

The Peterborough-based group will receive undisclosed upfront fees, milestone payments and royalties on the combined sales value of any drugs that reach the market, plus fees for the Intraject device.

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