Vasogen and Grupo Ferrer to commercialize Celacade in Europe

Apr 19 2007

Vasogen has announced a collaboration with Grupo Ferrer Internacional, S.A. ("Ferrer"), to commercialize Vasogen's Celacade technology for the treatment of chronic heart failure in the European Union and in certain Latin American countries.

Under the agreement, Vasogen will receive 45% of Celacade revenues generated by Ferrer, as set out below, for a period five years from the date of first commercial sale on a country-specific basis, and will receive 42% of such revenues thereafter. Ferrer will be responsible for the costs associated with the launch and marketing of Celacade in Europe and certain Latin American countries. Vasogen will also receive milestone payments based on Ferrer's achievement of first commercial sales of Celacade on a country-specific basis, and on reaching pre-specified sales thresholds. Chronic heart failure is a leading cause of morbidity and mortality throughout the western world and affects over 6 million people in Europe alone.

"Chronic heart failure is a major healthcare challenge in the industrialized world and this agreement represents a significant economic opportunity for our Celacade technology - a first-in-class therapeutic entrant," commented Terry Gregg, President, Chief Executive Officer, and Chairman of Vasogen. "Given Grupo Ferrer's proven ability to successfully introduce new healthcare technologies into the large markets of Europe and Latin America, we are extremely excited about this partnership and look forward to the initial commercialization of Celacade later this year."

"Having followed the development of Celacade for several years, we are very enthusiastic about the opportunity for Grupo Ferrer to market this new immuno-modulatory strategy to the cardiology community of Europe and Latin America," stated Dr. Carlos de Lecea, Vice President International & Business Development at Ferrer. "Celacade offers cardiologists an entirely new way to target the pathological inflammatory processes of heart failure not addressed by available therapies, and given the magnitude of the heart failure problem, we see a large economic opportunity for both Vasogen and Ferrer."

http://www.vasogen.com/