Agreement Worth $13.2 Million


Turku - Biotie Therapies Corp. has recently signed a cooperation and option agreement with Somaxon Pharmaceuticals Inc., San Diego. Under the terms of the agreement Somaxon has an option to an exclusive license for North American rights to develop, manufacture and market Nalmefene for the treatment of pathological gambling and other impulse control disorders. Somaxon has paid BioTie $0.2 million as an initial option fee in July. Upon gaining a clinical development agreement with FDA, the companies will execute the license agreement and BioTie will receive a $3 million signing fee. Additionally, BioTie can receive clinical development milestone payments totaling $10 million plus royalties on sales in North America. Nalmefene is a specific and selective opioid receptor antagonist, which has demonstrated safety and efficacy in a phase II clinical study in the US in patients suffering from pathological gambling and in two phase III studies in the UK and in Finland in patients suffering from alcoholism and alcohol abuse.



The vaccine research centre of the University of Tampere in Finland has out­licenced a candidate combined prophylactic vaccine against norovirus and rota­virus infections. The Japanese vaccine venture UMN Pharma Inc. acquired the...



Finnish protein manufacturer Vectron Biosolutions AS has completed a study comparing different expression technologies. According to Vectron, their proprietary E. coli expression technology gave higher yields for seven out of ten...



Lappeenranta – Finnish paper industry major UPM plans to invest in an industry-scale biorefinery producing biofuels from crude tall oil, a by-product of the wood pulp manufacturing process. UPM’s total investment will amount to...



Helsinki/Göttingen – Finnish laboratory supplier Biohit Oyj has sold its liquid handling business for €68m to German process and labtech provider Sartorius AG. Osmo Suovaniemi, founder and Chairman of the Board at Biohit,...



Porvoo/Chalfont St. Giles – GE Healthcare and Neste Jacobs have formed a strategic alliance to drive worldwide self-sufficiency in blood plasma fractionation. Finnish-based Neste Jacobs Oy, a global expert in plant engineering...



Bresso/Turku – The wedding's off between Newron and Biotie. The bride has run away. Shares in Italy's Newron Pharmaceuticals plunged after its proposed merger with Biotie Therapies Corp was called off by the Finnish firm....



Turku/ Bresso – It is both good and bad news for the Italian biotechnology sector: Finnish Biotie Therapies ASA has signed an agreement to acquire Newron Pharmaceuticals S.p.A. for €45 million. On the down side, Italy loses one...



Hafnarfjodur – Actavis Group CEO Claudio Albrecht announced at the beginning of February that the company may go public within the next 2-3 years, although it isn’t clear whether the generics manufacturer would conduct an IPO,...

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