LEO Pharma signs $75m collaboration agreement

LEO Pharma and GTC Biotherapeutics have entered into a collaboration agreement to develop and market ATryn for markets in Europe, the Middle East, and Canada.

The agreement includes $73 million in potential milestone payments to GTC for meeting regulatory, clinical and sales goals.

ATryn is GTC’s recombinant form of human antithrombin, a plasma protein with anticoagulant and anti-inflammatory properties.

GTC will be responsible for production of ATryn and will receive a transfer price for all product used by LEO Pharma. GTC will also receive a royalty on net sales.

In turn LEO Pharma will be responsible for sales and marketing of ATryn in Europe, the Middle East, and Canada as well as the clinical development for acquired antithrombin deficiency indications.

“LEO is an excellent partner for the ATryn program with a strong strategic interest in products for Critical Care and the management of coagulation,” said Geoffrey Cox, GTC’s chairman of the board and chief executive officer.

ATryn will be the first antithrombin product that would be approved in all the countries of the European Union.

Danish based Leo Pharma employs 3,313 people and had a total annual turnover of ??432 million in 2004.

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