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Dec 14, 2007

Tibotec to Pay Medivir $24.5M in Connection with HCV Partnership

  • Medivir received 17 million, or $24.54 million, from Tibotec related to an HCV collaboration signed in 2004. The firms agreed to discover and develop orally active protease inhibitors of the NS3/4A protease to treat chronic HCV infection.

    Medivir reports that it achieved one of the clinical milestones defined under the terms of this research and license agreement. The company thus secured 5 million, or $7.21 million.

    The second payment is due because Medivir opted to not obtain the marketing rights to an approved product in the Nordic countries. The firm will receive 12 million, or $17.32.

    “Our goal is to achieve revenues from sales of licensed pharmaceuticals in the Nordic market in the coming 12 months,” explains Medivir’s CEO Lars Adlersson. “A robust financial position will facilitate the creation of a Nordic sales and marketing organization and strengthen us in coming partnership negotiations.”



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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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