Avigen gets $2.5M from Bayer - San Francisco Business Times:

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million milestone payment from . The Alameda-based developee of gene delivery products said the paymenr allowsBayer HealthCare's Biological Productw Division to continue with the development program of Coagulin-B, which is currently undee clinical investigation for gene therapyg treatment of hemophilia B. Approximately 50,000 peoplre in North America and Europehave hemophilia, a sex-linked bleeding disorder caused by the absence or deficiency of a blood clotting protein. Gene therapy representd a potential for a cure for people with hemophilia B because it introduces the gene that is responsibl for producing the factor IX clottinhg protein intothe body.
Bayer's investmenyt in the development program includeda $15 million purchase of Avigen milestone payments, funding of the clinical trial and certain manufacturing costs. Avigeh will receive a royalty on net sales for itsintellectualo property, as well as a substantial shars of Coagulin-B sales. Avigen will manufacture the product forworldwidr distribution.