Nycomed releases Diatide milestone payment

September 2, 1998

Radiopharmaceutical firm Diatide reported last month that it received an expected $2 million milestone payment from marketing partner Nycomed Amersham. The payment is in response to Diatide's filing of new drug application (NDA) for NeoTect, a lung

Radiopharmaceutical firm Diatide reported last month that it received an expected $2 million milestone payment from marketing partner Nycomed Amersham. The payment is in response to Diatide's filing of new drug application (NDA) for NeoTect, a lung cancer imaging agent formerly called P829.

Nycomed's payment comes only weeks after the Buckinghamshire, U.K., firm announced that it would terminate an option and development agreement with Diatide for some products (SCAN 8/19/98). At the time of the announcement, both firms emphasized that Nycomed's withdrawal would not affect its marketing of NeoTect or AcuTect, Diatide's technetium-labeled agent for the detection and localization of acute venous thrombosis. The FDA could clear AcuTect this month, according to Diatide executives.

The Londonderry, NH, firm submitted its NeoTect NDA in June and has received a six-month priority classification from the Food and Drug Administration. The company expects NeoTect to be approved by the end of the year. Nycomed will pay Diatide another $2 million when the agent is approved.