Lundbeck enters partnership agreement with PAION  

2005.07.12
Copenhagen based Lundbeck has entered an agreement with PAION, a German biopharmaceutical company, for the development and marketing of PAION's drug candidate Desmoteplase

Denmark's Lundbeck has entered an exclusive partnership agreement with PAION, a German biopharmaceutical company, for the development and marketing of PAION's Desmoteplase, a drug candidate for the treatment of stroke currently in Phase III development. Except for the US and Canada, the agreement applies globally. Forest Laboratories holds the marketing and development rights in the US and Canada. Lundbeck is paying an upfront fee of DKK 112 mn (USD 18 mn) to PAION.

Desmoteplase is a blood clot dissolving agent which has the potential to treat patients with acute ischaemic stroke up to 9 hours after onset of symptoms. Reportedly the only currently available clot dissolving agents have to be administered within 3 hours of onset of symptoms.

Claus Bræstrup, President and CEO of Lundbeck is delighted with the agreement: "Desmoteplase has the potential of being available for 80% of stroke patients that presently have no treatment opportunity for the potentially fatal consequences of ischaemic stroke", he comments. In the US, Desmoteplase has received fast-track designation for ischemic stroke from the FDA. The news is reported by financial daily newspaper Børsen and on Lundbeck's website.

Lundbeck is headquartered in Copenhagen, and develops and produces drugs for the treatment of psychiatric and neurological disorders. In 2004, the company generated revenues of DKK 9.7 bn (USD 1.5 bn). The number of staff is approximately 5,000.

Link > Lundbeck 

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