European Collaboration With Nycomed
- Entered into a Collaboration, License and Supply Agreement with Nycomed Danmark APS In July 2004 for the European development and marketing rights to Imagify.
- Nycomed is a pan-European pharmaceutical company with over $3 billion in revenues in 2006.
- Nycomed has agreed to provide $70 million in license fees, research and development funding, and milestone payments, including $12 million in payments over the first two years.
- An additional $58 million in milestone payments are related to regulatory approvals and achievement of certain sales goals. In addition,
- Acusphere will be paid to manufacture the product for Nycomed and receive royalties on Nycomed's sales of Imagify.
- Nycomed will be responsible for sales, marketing and the regulatory submissions required for marketing throughout its sales territory, which includes the member states of the European Union, as well as Russia/CIS and the Baltic States.
Acusphere has retained the rights to sell or license Imagify in the United States and in other sales territories outside of Europe.