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San Diego-Based Cypress Bioscience Sells Fibromyalgia Drug Marketing Rights.

The San Diego Union-Tribune (San Diego, CA)

| January 10, 2004 | This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Penni Crabtree

Jan. 10--A tiny San Diego company yesterday sold co-marketing rights to its experimental fibromyalgia drug to New York's Forest Laboratories in a deal worth up to $250 million.

Money-losing Cypress Bioscience, which faced an expensive round of last-stage Phase 3 human studies, said Forest will fund all continuing development of the drug, called milnacipran.

In addition, Forest will pay Cypress undisclosed upfront fees and milestone payments of between $200 million and $250 million, as well as undisclosed royalties if the drug is approved in the United States.

"We've come a long way, and this is tremendous for us,"…

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