Osiris ends agreement with Boston Scientific
Jan 7 (Reuters) - Osiris Therapeutics Inc (OSIR.O: Quotazione) said it ended a development and selling agreement with Boston Scientific Corp (BSX.N: Quotazione) for Prochymal as it looks to enter territory-specific, rather than indication-specific deals for the drug.
Osiris said it reclaimed sole worldwide rights to cardiovascular indications for Prochymal, an adult stem-cell therapy.
Osiris said it will relieve the drug giant of a $50 million loan obligation and $45 million in development payments. Osiris said it will also repay a $5 million debt, and accrued interest, in four quarterly installments. (Reporting by Varsha Tickoo in Bangalore)
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