Mar 05th 2013 - Edison Investment Research today published a report on Biotie Therapies Corp entitled "Tozadenant Enters Pivotal Territory". In summary, the report says:
UCB’s decision to support further development of Biotie’s Phase IIb Parkinson’s disease candidate tozadenant provides encouraging endorsement and a $20m upfront fee. Biotie will now conduct the Phase III studies – to start in H115 – but UCB will effectively fund the trials through additional payments (low triple-digit $m) over the next six years. Tozadenant is now Biotie’s primary focus, and with cash of €49m coupled with milestones/royalties to flow in from Lundbeck’s EU sales of alcohol-dependence drug Selincro, the company is well positioned to advance tozadenant and to conduct a portfolio review that may bring in new opportunities.
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