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Jun 21, 2007

Genzyme Gains Marketing Rights for Ceregene’s Parkinson's Drug in $150M Deal

  • Ceregene and Genzyme entered into a partnership for the development and commercialization of Ceregene's Phase II candidate, CERE-120, for the treatment of Parkinson's disease.

    Under the terms of the agreement, Genzyme will pay Ceregene $25 million upfront in exchange for certain partnership-related expenses. Ceregene also is entitled to development-related milestone payments of up to $125 million and 50% reimbursement of the worldwide Phase III development costs.

    Genzyme will gain marketing rights in all areas outside the U.S. and Canada and will pay Ceregene tiered sales royalties.  Ceregene thus retains exclusive rights in the U.S. and Canada.

    “The resources provided by our new partnership with Genzyme, together with the greater than $27-million initial closing of our Series C financing, provides the funding we currently need to advance CERE-120 toward commercialization," points out Jeffrey M. Ostrove, Ph.D., president and CEO of Ceregene.

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Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

Do you agree that ecstasy should be studied for its potential therapeutic benefits?

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