The companies will jointly develop ODM-201, with Bayer covering the majority of development costs and responsibility for global commercialization. Orion has the option to co-promote ODM-201 in Europe and will manufacture the product. Orion will receive €50 million upfront and is eligible to receive development milestones, tech transfer and commercialization milestones, as well as royalties on sales.
Dr. Reijo Salonen, senior vice president of R&D at Orion said, "Joining forces with Bayer, I believe that we have again achieved a collaboration that represents the best of all worlds," said Dr. Reijo Salonen, senior vice president R&D and chief medical officer for Orion. "Bayer has recently committed to developing therapies in Oncology, particularly for Prostate Cancer. At Orion, we continue our track record of inventing innovative molecules. And most importantly, for patients with prostate cancer, this partnership will bring a medicine that will make an important difference to their lives."
Dr. Joerg Moeller, member of the Bayer HealthCare Executive Committee and head of Global Development, said, "We see in ODM-201 a potential new treatment for patients with high risk non-metastatic castration-resistant prostate cancer and are looking forward to developing this promising compound," said Dr. Joerg Moeller, Member of the Bayer HealthCare Executive Committee and Head of Global Development. "From a clinical perspective, ODM-201 has the potential to complement our portfolio in prostate cancer and enables us to deliver new treatment options for patients who desperately need them."