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Zealand Pharma inks license agreement with Abbott
June 2012
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COPENHAGENóZealand Pharma recently announced the signing of a license agreement with Abbott for the development and commercialization of AP214, a first-in-class melanocortin peptide agonist, invented and developed by Action Pharma AS, and modified by using Zealand Pharma's SIP-technology. The new agreement replaces its predecessor, established between Zealand Pharma and Action Pharma for the same compound. Abbott signed an agreement to acquire the rights to AP214 from Action Pharma, triggering a payment of $11 million to Zealand from Action Pharma. Per the agreement, Abbott will assume full responsibility for further development and commercialization of AP214 for the prevention of acute kidney injury and other relevant indications, while Zealand Pharma will be entitled to a low single-digit royalty on Abbott's future sales of AP214.

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