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ThromboGenics Enters Into Commercialization Agreement For Ocriplasmin With Alcon Outside The United States

Stocks in this article: THR

LEUVEN, Belgium, March 16, 2012 /PRNewswire/ --

ThromboGenics to concentrate on realizing ocriplasmin's significant commercial potential in the U.S.

  • ThromboGenics to receive €75 million upfront and a further €90 million in potential near-term payments. Additional milestones bring the total of up-fronts and potential milestones to €375 million
  • ThromboGenics will receive royalties on net sales of ocriplasmin that are commensurate with a product that has successfully completed phase III development and that has been filed for regulatory approval
  • Alcon plans to introduce ocriplasmin in more than 40 countries worldwide
  • ThromboGenics retains all U.S. rights to ocriplasmin and will commercialize the product itself in the U.S.
  • Ocriplasmin is currently under review by the European Medicines Agency as the first pharmacological treatment for symptomatic Vitreomacular Adhesion (VMA) including macular hole, a debilitating eye disease

A webcast/conference call for analysts, press and investors will be hosted by Dr Patrik De Haes, CEO of ThromboGenics, today at 10:00 AM Central European Time - details are at the end of this release.

 

ThromboGenics NV (Euronext Brussels: THR), a biopharmaceutical company focused on developing innovative ophthalmic medicines, announces today that it has entered into an agreement with Alcon (a division of Novartis), the global leader in eyecare, for the commercialization of ocriplasmin in all markets outside the U.S. As a result of this important strategic deal, ThromboGenics will concentrate on commercializing ocriplasmin in the U.S. where it plans to build its commercial and medical organization to support the product's anticipated launchwithin the next 12 months.

Under the terms of the agreement with Alcon, ThromboGenics will receive an upfront payment of €75 million. The Company is also entitled to a further €90 million in potential near-term milestone payments. Additional milestones bring the potential total of upfronts and milestones to €375 million.

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