Schering acquires Japanese rights to MS-325

An agreement reached Jan. 10 gives Schering exclusive rights to codevelop, manufacture, and market Epix Medical's premier vascular agent in Japan. The product, MS-325, is in phase III clinical trials to document its ability to help visualize peripheral vascular disease with MRI.

Schering gained worldwide sales and marketing rights to the product, excluding Japan, in June. The terms of the latest deal call for Schering to pay Epix $3 million up front, along with additional milestone payments. Simultaneously with this transaction, Epix reacquired rights to the Japanese market for MS-325 from Daiichi Radioisotope Laboratories. Under terms of that agreement, Epix will pay Daiichi $2.8 million in up-front fees and additional milestone payments. Daiichi will also receive a royalty from Epix on net sales of MS-325 in Japan.