Biotech Company 7TM to Partner With Food Giant

The small biotech company, 7TM Pharma, will now enter into a partnering race with one of the world's largest food giant, Procter & Gamble, about the development of new drugs for the treatment of peripheral vascular diseases and coronary vascular disease related to arteriosclerosis, the parties write in a joint press release. The collaboration agreement is entered with Procter & Gamble Pharmaceuticals, a subsidiary of Procter & Gamble Company, and under the agreement 7TM has granted P&GP exclusive worldwide rights to develop, manufacture, and commercialise specific molecules derived from the program in exchange for an upfront fee, milestone payments, and royalties on product sales, if successful.

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