Nastech inks $577M licensing pact

Shares of Nastech jumped yesterday after the Bothell, WA-based biotech reported a licensing deal with Procter & Gamble for $10 million up front, up to $32 million in the first year with its total potential reward climbing to $577 million. The deal covers the parathyroid hormone spray Forteo, a nasal spray for osteoporosis. In trials the drug has increased bone mineral density among women with post-menopausal women, reducing the number of fractures they experience.

- read this report from the Seattle Post-Intelligencer for more