MRI contrast developer Epix Pharmaceuticals said that development and marketing partner Schering has exercised its option for a preclinical gadofluorine derivative discovered during a joint Epix-Schering research program.
The product candidate is intended for use in diagnosing atherosclerosis and other vascular diseases, according to Epix of Cambridge, MA. Berlin-based Schering will now take over developing the gadofluorine derivative. If Schering successfully develops the product and it's approved by appropriate regulatory authorities, Epix will receive sales royalties.
The gadofluorine derivative research program is part of a broader joint research program between the firms and expires in May. Epix and Schering are in discussions regarding the conclusion of the overall agreement, with neither party asking for renewal.
Arrangements regarding Epix's most significant research program are still the subject of ongoing discussions, according to the firm.
By AuntMinnie.com staff writers
February 13, 2006
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