July 27 (Bloomberg) -- Bayer AG agreed to pay Trius Therapeutics Inc. $25 million upfront for collaboration rights to the U.S. biotechnology company’s skin-infection antibiotic torezolid outside the U.S., Canada and Europe.
Bayer will contribute to global development costs for the experimental drug and may pay Trius as much as $69 million if the medicine meets certain development, regulatory and commercial goals, the Leverkusen, Germany-based company said in a statement today. Trius of San Diego, California, will also get double-digit royalties on net sales, Bayer said.
Torezolid is in the final phase of clinical development before U.S. and European Union regulatory approval and is expected to compete with Pfizer Inc.’s Zyvox.
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