Epix Medical
This article was originally published in The Gray Sheet
Executive Summary
Cardiovascular magnetic resonance imaging agent pact will result in a $10 mil. up-front fee and $20 mil. in milestone payments from Schering AG. MS-325, formerly known as AngioMark and designed to detect blockages in the cardiovascular system, will be co-developed and sold worldwide by Schering (excluding Japan). Epix will complete Phase III trials currently underway and file for FDA approval. Mallinckrodt will manufacture the product under a long-term supply contract. Epix and Schering will split U.S. profits and Schering will pay royalties for other markets. Under a separate strategic partnership agreement for development of additional cardiovascular MRI agents, Schering will make a $20 mil. equity investment in Epix