Payment was triggered by the selection of a preclinical candidate.
Medivir received a milestone payment of 2.6 million euros ($3.3 million) from Tibotec due to the selection of a preclinical development candidate drug from its HCV polymerase research collaboration.
Medivir entered a research, development, and license agreement to study HCV polymerase with Ortho Biotech and Tibotec in May. The aim of the collaboration is to identify and develop orally active inhibitors of the HCV polymerase NS5B.
Tibotec is responsible for the regulatory preclinical phase of the project and the clinical development and marketing of such compounds. Tibotec also owns exclusive marketing rights in all countries except Nordic countries where marketing rights are retained by Medivir.