Biogen Idec is paying $7.5 million up front and up to $30 million in milestones for the right to develop a new therapy for pulmonary arterial hyperntension from MondoBiotech. Biogen is looking to gain marketing rights for Aviptadil in the U.S. and Europe. Biogen also agreed to make an equity investment of $5 million in MondoBiotech. Aviptadil is a synthetically produced human peptide that met its primary endpoint in a Phase II trial.
- read the AP report on the deal