Biogen, mondoBiotech to develop hypertension drug Aviptadil

By Elaine Rigoli

Tampa, Fla., Sept. 14 - Biogen Idec and mondoBiotech AG have signed a collaboration and license agreement for Biogen Idec to develop, manufacture and commercialize Aviptadil, a clinical compound for the treatment of pulmonary arterial hypertension.

Under the terms of the agreement, mondoBiotech, a biotechnology company in Basel, Switzerland, will receive a $7.5 million upfront payment and up to $30 million of milestone payments for successful development and commercialization of Aviptadil in the United States and Europe, as well as royalty payments on commercial sales.

Separately, Biogen, a Cambridge, Mass.-based biotechnology company, intends to make a minority equity investment of $5 million in mondoBiotech during an planned initial public offering.

Biogen said it will finalize the development plan for Aviptadil and begin additional clinical work in 2007.

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