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Saturday, September 13, 2008

Bayer and Epix to part ways over vasovist.

Bayer Schering Pharma will transfer the worldwide commercial rights for the novel blood pool magnetic resonance angiography (MRA) agent, Vasovist(R) (gadofosveset trisodium) to EPIX. Thecollaboration agreementbetween the two parties will terminate effectiveMarch 1, 2009; until that time, Bayer Schering Pharma will continue to provide continued supply of Vasovist in the 19 countries where it is currently marketed.
"We are pleased to regain complete worldwide commercial rights for Vasovist which has a PDUFA date of December 31, 2008," said Elkan Gamzu, Ph.D., interim chief executive officer of EPIX. "Pending FDA approval, Vasovist is positioned to become the first MRA contrast agent approved in the United States and it could be launched in 2009. Our goal remains to maximize the commercial value of Vasovist and we are committed to executing our monetization strategy which includes finding a marketing and commercialization partner for Vasovist."
"Vasovist is a first-in-class blood specific MRA contrast agent with several distinctive characteristics that we believe may allow it to become a market leader in the United States," added Chen Schor, chief business officer of EPIX. "Vasovist has demonstrated good resolution angiography, a high signal per dose, a long imaging window timeframe and single-dose imaging of multiple vessel beds. We believe these characteristics coupled with a streamlined commercial rights profile should make this an appealing opportunity for a company interested in building or strengthening its competitive position in the MRA market."

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