Nycomed, EffRx ink $59M licensing pact

Nycomed has agreed to pay up to $59 million in an upfront fee and milestones for licensing rights to EffRx's experimental therapy for osteoporosis. Nycomed will sponsor the necessary additional studies required for marketing approval of EX101. The licensing deal includes Europe, Russia, The Middle East, North Africa, Latin America and Canada. EX101 is currently in late stage clinical trials and EffRx says it expects a U.S. approval in 2010. Nycomed release