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Jun 19, 2007

ZymoGenetics and Bayer HealthCare Sign $198M Deal for rThrombin

  • Bayer HealthCare will help ZymoGenetics advance its lead product candidate, recombinant human thrombin (rThrombin), under an agreement worth up to $198 million.

    ZymoGenetics expects to receive $30 million upfront and a $40-million milestone payment upon approval of rThrombin in the U.S. this year. The company also is eligible to receive up to $128 million in additional development and sales-based milestones over the course of the agreement.

    Under the multiyear, domestic, and global license agreement, ZymoGenetics retains U.S. product rights. As part of a co-promotion alliance, Bayer HealthCare will contribute its sales and marketing expertise for the first three years following product launch with the expectation that the two firms will maximize penetration of the product into the U.S. market.

    ZymoGenetics will compensate Bayer HealthCare through a a tiered commission of up to 20% on U.S. sales and up to $20 million in sales bonus payments upon achievement of certain U.S. sales levels. For two years following the end of the co-promotion period, ZymoGenetics will pay Bayer HealthCare a sales commission at a reduced rate, subject to an annual maximum.

    Bayer HealthCare will commercialize rThrombin in all countries outside the U.S. It will be responsible for any required clinical trials and securing regulatory approvals.



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