NEW YORK (GenomeWeb News) — Gene Logic yesterday said it will help H. Lundbeck reposition and develop certain drugs candidates that were “discontinued” or “de-prioritized” for reasons other than safety.
Gene Logic said the deal allows for milestones and royalties similar to those paid for development-stage in-licensing deals, discounted to account for Lundbeck's contribution as the originator of the compound.
It also provides an option to license any of the candidates that Lundbeck decides not to pursue, in which case Lundbeck would receive success-based milestone and royalty payments.
Financial details were not disclosed.
Gene Logic also said yesterday that it expects to pocket around $2.5 million from Lundbeck over the coming year from an unrelated technology licensing agreement.