As earlier announced, the University of Florida filed a lawsuit against Diamyd last quarter in the United States Federal District Court in Florida, claiming parts of the upfront payment we received last summer for the license agreement with OMJPI
will have the option to license assays to newly identified targets from the BSi, and, in exchange, OMJPI
will share tool compounds with BSI researchers for biological target identification and validation.
Our work together with OMJPI
has been extremely efficient and cooperative," said Frederick Jones, M.
The relationship with OMJPI
is part of the Receptos plan to enable strategic partners with Receptos technology and enhance industry efforts to pursue rational drug design for this important class of therapeutic targets.
Under the agreement, OMJPI
will make an upfront payment of USD45m to Diamyd Medical, which is also entitled to additional development and sales milestone payments of up to USD580m, as well as to tiered royalties on future sales.
Profit before tax for the fourth quarter amounts to MSEK 75 as a portion of the up-front payment of MSEK 327 received in connection with the signing of the agreement with OMJPI
has been recognized as revenue.
Pursuant to the agreement OMJPI
will make an initial payment of USD45m to Diamyd and share costs of the ongoing research and development activities.
NORDIC BUSINESS REPORT-22 June 2010-Swedish Diamyd Medical, US-based OMJPI
sign deal for diabetes vaccine(C)1994-2010 M2 COMMUNICATIONS http://www.
With its global resources and ambitions in the diabetes area, OMJPI
is an ideal partner for a future market launch.
M2 EQUITYBITES-22 June 2010-Swedish Diamyd Medical, US-based OMJPI
sign deal for diabetes vaccine(C)2010 M2 COMMUNICATIONS http://www.
Under the agreement, Anchor and OMJPI
will work jointly to discover and optimize preclinical development candidates against GPCR targets in oncology and metabolic disorders, including Anchor's program targeting gpr39, a GPCR involved in metabolic diseases.
will make an upfront payment of USD 45 million, and under the terms of the agreement, Diamyd has the potential to receive additional development and sales milestone payments of up to USD 580 million, as well as tiered royalties on future sales.