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BRIEF-Medigene revises collaboration with Mitsui Norin
March 23, 2017 / 1:24 PM / 9 months ago

BRIEF-Medigene revises collaboration with Mitsui Norin

March 23 (Reuters) - Medigene AG:

* Medigene revises collaboration with Mitsui Norin

* Today announced a new contractual arrangement with Mitsui Norin Co. Ltd, regarding its drug Veregen

* Current manufacturing and supply agreement has been mutually terminated as of March 31, 2017

* Previous agreement has been replaced by a new license agreement covering drug master file (DMF) for Veregen

* As a part of arrangement to terminate existing manufacturing and supply agreement, Medigene has agreed to a one-time payment of $1.75 million to Mitsui Norin

* Additional payment to Mitsui Norin for up to $0.5 million to reimburse costs of ending production is also expected in course of 2017

* No further financial details regarding new license agreement were disclosed Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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