Collaboration with Genzyme/Sanofi Ended
Osiris Therapeutics, Inc. (NASDAQ:OSIR) today announced the conclusion of its collaboration with Genzyme, a Sanofi company.
The Collaboration Agreement is now ended, all rights to Prochymal® and ChondrogenTM worldwide revert back to Osiris.
The Bottom Line: A further Actionable and reiterate a Strong BUY. Osiris is now free to commercialize or enter into commercialization agreements for Prochymal and Chondrogen with other parties without limitation. Both parties have agreed to an orderly conclusion of the collaboration, with no further financial responsibilities for either party, or an amicable end to their relationship. Prochymal (remestemcel-L) is a first-in-class mesenchymal stem cell therapy indicated for the treatment of acute graft-vs-host disease (GvHD) in children. In May, Prochymal became the world's first stem cell therapy to be approved by an internationally recognized regulatory authority.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.