GlaxoSmithKline and Biovitrum Enter Collaboration On Therapies for Obesity and Other Disorders.

(From Hugin)

London and Stockholm, October 23, 2002 -GlaxoSmithKline plc (GSK) and Biovitrum AB today announced that they have signed a worldwide agreement to develop and commercialise Biovitrum's 5-HT2C receptor agonists for the treatment of obesity and other medical disorders. The most advanced compound included in the collaboration is BVT.933, an appetite-suppressing compound that Biovitrum has advanced to Phase II clinical trials. Under the terms of the agreement, GSK will have exclusive rights to develop, register, manufacture and commercialise Biovitrum's existing collection of proprietary 5-HT2C receptor agonist compounds. Biovitrum retains the exclusive right to commercialise products arising from the collaboration in the Nordic countries. Certain ongoing studies, including the Phase II clinical study for BVT.933, will be completed by Biovitrum, after which GSK will fund and …