November 6, 2008

From The News Wire: Osiris, Genzyme and JDRF IDDP

JDRF made a two million dollar payment to Osiris in June as part of an IDDP program. This was for trials of Prochymal.

Today (11/6/08)

Genzyme Corp. and Osiris Therapeutics announced today that they have entered a strategic alliance for the development and commercialization of Prochymal and Chondrogen, two novel, late-stage adult stem cell treatments that hold significant potential to treat a wide range of diseases. These stem-cell products are designed to provide therapeutic benefit by controlling inflammation, promoting tissue regeneration, and preventing scar formation.

Edited:

The Wall Street Journal has more:

Genzyme Corp. and Osiris Therapeutics Inc. have reached a deal, valued at as much as $1.4 billion for Osiris, to jointly develop and sell Osiris stem-cell-based treatments that are aimed at several diseases.

Under the deal, Genzyme will pay Osiris $130 million upfront in two guaranteed payments, the second of which is due on July 1, while it helps develop and market Osiris's Prochymal and Chondrogen products. The deal then calls for as much as $1.25 billion in potential payments over several years as regulatory and sales milestones are hit.

Prochymal and Chondrogen are made from a type of stem cell that is taken from the bone marrow of adult donors. Prochymal is an injectable drug aimed at a number of diseases, including a rare immune-system problem that can hit marrow-transplant patients, while Chondrogen is being developed as a potential injectable treatment for severe knee arthritis.





So how does the JDRF thing factor in? I wish JDRF was transparent about this stuff. They aren't. Well off to see what I can find out.

2 comments:

Scott said...

Actually, the policy at JDRF's involvement in private companies was featured in The Wall Street Journal back in 2007 (see http://www.jdrf.org/files/Research/Industry/WSJ_1_26_07.indd.pdf for details), and was a function of former CEO Arnold Donald's policy to make investments to advance diabetes research. More detail is available on the JDRF website from an interview with him (see http://www.jdrf.org/files/About_JDRF/AD_Interview_DCU_1106.pdf). Details are also disclosed in the organization's annual report, though this won't be included until the 2008 report comes out next year.

Bennet said...

Thanks for those links Scott.

While they help with the philosophy of the IDDP the don't do much for the transparency of the projects. Or for that matter the very real risk of conflict of interest.