Orexo announces a licensing agreement for its pain product Rapinyl™ (OX 20) for the European market
Orexo AB and ProStrakan Group plc today announced that they have entered into a licensing agreement under which ProStrakan as of January 2nd, 2006, receives exclusive rights to register and market Rapinyl™ (OX 20) – Orexo´s patented product for management of breakthrough cancer pain – on the European market. In return for these rights, Orexo will receive an up-front license fee payment of 5 M EURO (approximately 47 MSEK) in addition to other license fees and payments based on development, regulatory and sales milestones, which total up to 17 M EURO (approximately 160 MSEK). When ProStrakan