Palo Alto, Calif. – March 29, 2013 – Cooley LLP announced today that it advised Otsuka in its $825 million collaboration agreement with Lundbeck to further the development and commercialization of a developmental drug, Lu AE58054, for the treatment of Alzheimer's disease.
Under the terms of the agreement, Lundbeck will receive an initial payment of $150 million and both companies will share the sales, development, and commercialization costs. In exchange, Lundbeck will grant Otsuka co-development and co-commercialization rights to Lu AE58054 in the US, Canada, East Asia, including Japan, and in major European and Nordic countries.
Otsuka is a global healthcare company that researches, develops, manufactures and markets innovative and original products, with a focus on pharmaceutical products for the treatment of diseases and nutraceutical products for the maintenance of everyday health. Lundbeck is a global pharmaceutical company committed to improving the quality of life of people living with brain diseases.
The Cooley team that advised Otsuka was led by Seattle-based of counsel, Alison Freeman-Gleason and Palo Alto-based partner Lila Hope and included Washington, DC-based partner Thomas Blinka.
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