Biotie: Selincro Launched in the United Kingdom
TURKU, FINLAND -- (Marketwired) -- 05/06/13 -- Biotie today
announced that its partner H.Lundbeck A/S (Lundbeck) has launched
Selincro in the United Kingdom. According to the terms of the license
agreement between Biotie and Lundbeck for Selincro, Biotie is
eligible for a milestone payment of EUR 2 million related to the UK
launch. Biotie will potentially contribute to Lundbeck towards any
required post approval commitment studies. These contributions are
not expected to be significant in 2013.
Lundbeck will continue the rollout of Selincro in additional European
markets through 2013 and into 2014.
Turku, 6 May 2013
Biotie Therapies Corp.
President and CEO
ABOUT SELINCRO (nalmefene):
Selincro is indicated for the reduction of alcohol consumption in
adult patients with alcohol dependence who have a high drinking risk
level ( > 60 g/day for men, > 40 g/day for women) without physical
withdrawal symptoms and who do not require immediate detoxification.
Selincro should be prescribed in conjunction with continuous
psychosocial support focused on treatment adherence and the reduction
of alcohol consumption. Treatment should be initiated only in
patients who continue to have a high drinking risk level two weeks
after an initial assessment. Selincro is to be taken as-needed; that
is, on each day the patient perceives a risk of drinking alcohol, one
tablet should be taken, preferably 1-2 hours prior to the anticipated
time of drinking.
Biotie has licensed global rights to Selincro to Lundbeck. Under the
terms of the agreement, Biotie is eligible for up to EUR 89 million
in upfront and milestone payments plus royalties on sales of
Selincro. Upon payment of the UK launch milestone, Biotie will have
received EUR 14 million of such milestone payments from Lundbeck.
Further payments of up to EUR 2 million are expected on commercial
launch of Selincro in each of France, Germany, Italy and Spain, and
further potential milestone payments on launches in certain other
markets and if the product reaches certain predetermined sales.
Lundbeck is responsible for the registration, manufacturing and
marketing of the product.
Biotie is a specialized drug development company focused on the
development of drugs f
or neurodegenerative and psychiatric disorders
(e.g. Parkinson's disease, Alzheimer's disease and other cognitive
disorders, alcohol and drug dependence (addiction) and post-traumatic
stress disorder), and inflammatory and fibrotic liver disease. The
company has a strong and balanced development portfolio with several
innovative small molecule and biological drug candidates at different
stages of clinical development. Biotie's products address diseases
with high unmet medical need and significant market potential.
Biotie's most advanced product, Selincro (nalmefene), licensed to H.
Lundbeck A/S, has on 28 February 2013 received European marketing
authorization for the reduction of alcohol consumption in adult
patients with alcohol dependence who have a high level of alcohol
consumption. In addition, Biotie has a strategic collaboration with
UCB Pharma S.A. covering tozadenant which is transitioning into Phase
3 development for Parkinson's disease. Biotie shares are listed on
NASDAQ OMX Helsinki Ltd.
For further information, please contact:
President and CEO
tel. +358 2274 8900
Investor Relations Manager
tel. +358 2 274 8900
NASDAQ OMX Helsinki Ltd
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