Nordic Business Report-July 28, 2006-Santaris Pharma A/S and Enzon Pharmaceuticals Inc sign major collaboration agreement
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The Danish biopharmaceutical company Santaris Pharma A/S announced on Thursday (27 July) that it has signed a global collaboration agreement with US company Enzon Pharmaceuticals Inc.
Under the agreement the parties will cooperate in developing and commercialising new cancer drugs based on Santaris Pharma's LNA technology.
Enzon Pharmaceuticals will have the exclusive rights to the new compounds in all non-European markets, while Santaris Pharma will retain the European rights.
The agreement involves an USD8m up-front payment by Enzon Pharmaceuticals to Santaris Pharma followed by an additional payment of USD3m, and milestone payments representing a potential total of over USD200m.
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