Baltimore biotech firm in Japanese alliance

MARYLAND WATCH

January 09, 1996

Guilford Pharmaceuticals Inc., a biotechnology company based in Baltimore, said yesterday that it has struck an alliance with Daiichi Radioisotope Laboratories of Japan to develop and market Dopascan.

Guilford says the product, now in clinical testing, is the first developed specifically for Parkinson's disease, a degenerative disorder.

Under the deal, Daiichi, a radiopharmaceutical company, will receive exclusive marketing, sales and distribution rights to Dopascan in Japan, Korea and Taiwan. Daiichi also will pay for all product development costs in those countries.

Guilford will receive an undisclosed upfront payment, as well as royalties on product sales. The Baltimore company also will manufacture Dopascan for Daiichi.

Dr. Craig R. Smith, Guilford's president and chief executive, said the deal should lead to a long-term relationship between the two companies.

Dopascan is a "radiopharmaceutical." Administered by injection, it allows physicians to image the area of the brain degenerating from Parkinson's disease and measure the amount of deterioration.

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