Biogen Idec, Acorda Sign Collaboration Agreement For Fampridine-SR
Acorda to continue developing and commercializing Fampridine-SR in the US
Biogen Idec and Acorda have signed an exclusive collaboration and license agreement to develop and commercialize Fampridine-SR, a multiple sclerosis (MS) therapy, in markets outside the US.
Fampridine-SR is a novel, oral sustained-release compound being developed to improve walking ability in people with MS.
Both the companies have also entered into a related supply agreement. The transaction represents a sublicensing of an existing license agreement between Acorda and Elan Pharma, a subsidiary of Elan Corporation.
Under the terms of the agreement, Biogen Idec will commercialize Fampridine-SR and any aminopyridine products developed under the agreement in ex-US markets worldwide and will also have responsibility for regulatory activities and future clinical development of Fampridine-SR in those markets.
Acorda will receive an upfront payment of $110 million based on the successful achievement of future regulatory and will continue to develop and commercialize Fampridine-SR independently in the US.
The parties can also carry out future joint development activities under a cost-sharing arrangement.
Ron Cohen, President and CEO of Acorda, said: “We are delighted to be working with them Biogen Idec to make Fampridine-SR, if approved, available to people living with MS in Europe, Canada, Australia and other areas of the world. We believe that Biogen Idec’s international expertise in MS and neurology also will help us optimize future development of Fampridine-SR and maximize its value in markets outside the US.”
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