Orexo signs agreement with Novartis for novel formulation

Published: 2-Sep-2009

Orexo, a Swedish developer of treatments for pain and inflammation, has signed an exclusive worldwide licensing agreement with a Novartis affiliate to develop a novel product related to Orexo\'s OX17 programme.


Orexo, a Swedish developer of treatments for pain and inflammation, has signed an exclusive worldwide licensing agreement with a Novartis affiliate to develop a novel product related to Orexo's OX17 programme.

Under the terms of the agreement, Novartis will fund all future development of the new product and receive an exclusive licence to all related intellectual property. Orexo will receive milestone payments and royalties on future sales of the product. Financial terms were not disclosed.

Torbjoern Bjerke, president and chief executive of Orexo, said: "This agreement is potentially an important step towards Orexo becoming a sustainable profitable pharmaceutical company."

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