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License and Collaborative Agreements
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9 Months Ended |
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Sep. 30, 2012
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| License and Collaborative Agreements [Abstract] | |
| License and Collaborative Agreements | 9. License and Collaborative Agreements On May 25, 2012, the Company entered into an agreement with Premacure Holdings AB and Premacure AB of Sweden (collectively, "Premacure") pursuant to which the Company agreed to grant to Premacure an exclusive, worldwide license to develop manufacture and commercialize IGF-1, with its natural binding protein, IGFBP-3, for the prevention and treatment of complications of preterm birth. (the " Premacure License Agreement"). Premacure is currently focusing on retinopathy of prematurity. IGF- and IGFBP-3 were previously developed by the Company at higher concentrations as IPLEX®. The license is subject to the Company's receipt of a consent and waiver from Tercica, Inc., now known as the Ipsen Group ("Tercica"), and from Genentech, Inc., now owned by Roche ("Genentech"), of certain rights granted by the Company to Tercica and Genentech under the Settlement, License and Development Agreement dated March 5, 2007 (the "Waivers"). The Premacure License Agreement includes diligence milestones and royalty payments on prospective product sales. In September 2012, we entered into an amended and restated license agreement with Premacure (the "Amended and Restated Premacure License Agreement") and received the Waiver from Genentech. The license remains subject to the Company's receipt of the Waiver from Tercica. |