Genzyme inks $150M deal for Ceregene therapy
Genzyme has agreed to pay $25 million up front to partner with Ceregene on CERE-120, its experimental lead therapy being developed for Parkinson's disease. Genzyme has also signed up to pay up to $125 million in milestones as well as half of the late-stage development costs for the therapy. In return, Genzyme gets marketing rights outside the U.S. and Canada.
"We look forward to helping further the development of this exciting approach, building on our long-term commitment to gene therapy and neurodegenerative diseases," said David Meeker, president, Lysosomal Storage Disorders unit, Genzyme Corporation. "This program which is focused on preserving neuronal function will complement our existing Parkinson's clinical trial that is currently underway."
- check out the release on the deal