The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Angiotech Expands and Reworks Baxter COSEAL Deal (for real)

Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANP) reworked its COSEAL deal with Baxter International Inc.  For a $25 million one-time payment, Baxter will pick up the rights to COSEAL in Japan, completing a worldwide package, and will add additional fields of use for COSEAL, as well as rights to COSEAL derivatives. Baxter will owe no further royalty or milestone obligations to Angiotech.

Market reaction has been positive, with the stock up 18% so far today.

Bookmark and Share

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 131 other followers