AspenBio Pharma (NASDAQ: APPY) entered into a license agreement with Novartis Animal Health (NYSE: NVS) for the world-wide rights for the development and launch of AspenBio's novel recombinant single-chain bovine products, BoviPure LH™ and BoviPure FSH™. The license agreement is generally for the term of the patents and the arrangement provides for a sharing of product development, costs and worldwide product sales. AspenBio receives an upfront cash payment and ongoing royalties based upon net direct product margins as and has agreed to share in 35% of the product development and registration costs.
BoviPure FSH is a novel single chain follicle stimulating hormone analog for cows with many potential advantages over existing products. BoviPure LH is a novel single-chain luteinizing hormone (LH) analog for cows. This new bovine LH hormone analog is the first of its type in the world and is designed to increase pregnancy rates in dairy cows using both pre-breeding and post-breeding applications.
AspenBio Pharma is an emerging bio-pharmaceutical company dedicated to the discovery; development, manufacture, and marketing of novel proprietary products, including those that enhance the reproductive efficiency of animals and that have large worldwide market potential. The company was originally formed to produce purified proteins for diagnostic applications and has become a leading supplier of human hormones to many of the nation's largest medical diagnostic companies and research institutions. The company has successfully leveraged this foundational science and technology expertise to rapidly develop an enviable late-stage pipeline of several novel reproduction hormone analogs for wide-ranging therapeutic use in animals of economic importance. AspenBio Pharma continues to advance the development and testing of its two first-generation blood-based human diagnostic tests designed to rapidly help diagnose or rule out acute appendicitis in patients complaining of abdominal pain.