Norgine and Pegasus Biosolutions agree collaboration

Norgine has agreed a new alliance with Pegasus Biosolutions pertaining to the development of new pharmaceutical products.

The worldwide licensing agreement will see the two companies combining their expertise and capabilities to create innovative therapies, with the leaders of both businesses welcoming the deal.

Full financial details of the partnership have not been disclosed, but will involve the payment of an upfront fee and the acquisition of a minority equity stake in Pegasus by Norgine.

Peter Stein, chief executive officer of Norgine, said: "We are delighted to enter into this agreement with Pegasus and look forward to working with such a creative research team."

Earlier this year, Norgine announced a partnership with Medical Futures focusing on the Canadian commercialisation of Normacol, a therapy for gentle relief of occasional constipation.

This strengthened the existing relationship with Medical Futures, which already markets Moviprep on Norgine's behalf in the North American country.