Viragen and its majority-owned subsidiary, Viragen International have announced that a licensing agreement has been completed with Swedish Orphan International AB, granting exclusive marketing rights to Multiferon (multi-subtype, human alpha interferon) for the European Union (excluding previously licensed member states).
Under terms of the agreement, Viragen received approximately $2 million (1.5 million euro) as an up-front license fee and will serve as the sole manufacturer of the product. Swedish Orphan International will pay Viragen for Multiferon(R) at an agreed upon sales price, and, in addition, Viragen will receive double-digit royalties from Swedish Orphan International on their net sales.
Swedish Orphan International will also control and fund a significant portion of the costs for a planned European post-marketing clinical study. The melanoma post-marketing trial will further evaluate the use of Multiferon(R) for the first-line adjuvant treatment of high-risk malignant melanoma (Stages IIb-III).
Multiferon(R), which is manufactured by Viragen International's ViraNative AB subsidiary in Sweden, is currently approved for malignant melanoma and other diseases in Sweden, and the parties will collaborate on registration throughout the European Union with new regulatory approvals expected by early 2008.
Headquartered in Stockholm with a focus on specialty drugs targeting patients with rare, life-threatening diseases, Swedish Orphan International, "The Pioneer Orphan Drug Company", distributes more than 40 drug products throughout Europe in partnerships with more than 30 companies.