WOODCLIFF LAKE, N.J., Feb. 27 (UPI) -- U.S. firm Par said Tuesday it returned marketing rights to the anti-diarrheal agent Difimicin to Optimer for $20 million.
Optimer will continue to develop Difimicin, which is slated to enter phase 3 trials in March for Clostridium difficile-associated diarrhea.
In addition to the $20 million payment, Par will receive a $5 million milestone payment and royalty payments on global sales of Difimicin.
Par said it planned to focus its efforts on getting a branded product approved this year.
"This collaboration with Optimer has gone very well, with Difimicin expected to enter phase 3 next month," said Paul Campanelli, Par's executive vice president of business development and licensing.
"Our strategy, though, is to redirect resources toward timelier business development opportunities, so that we might bring to market at least one more branded product before the end of 2007," Campanelli added.
