Toronto Stock Exchange Symbol: MS
EDMONTON, Dec. 11 /PRNewswire-FirstCall/ - BioMS Medical Corp (TSX: MS), a leading developer in the treatment of multiple sclerosis (MS), today announced that the Company was the recipient of the "Licensing Deal of the Year Award" at the 4th Annual Scrip Awards held in London, U.K. In December 2007, BioMS entered into a licensing and development agreement granting Eli Lilly and Company (Lilly) exclusive worldwide rights to dirucotide, for the treatment of MS, in exchange for an US$87 million upfront payment, potential development and sales milestones up to US$410 million and escalating royalties on sales.
"We are honored to receive this award which recognizes the significance of the alliance between BioMS and our partner Lilly," said Kevin Giese, President and CEO of BioMS Medical. "This partnership demonstrates a mutual commitment focused on developing an effective therapeutic option for patients with secondary progressive MS, a debilitating disease of global proportion for which there are limited treatment options."
About The Scrip Awards 2008 ---------------------------
The Scrip Awards, hosted by Informa Healthcare - one of the world's leading medical and scientific publishers - brings together hundreds of senior-level industry experts at one of the industry's most prestigious and hotly contested awards ceremony, to highlight the achievements of pharmaceutical companies throughout the year. For further information visit http://scripawards.com.
About BioMS Medical Corp. -------------------------
BioMS Medical is a Canadian biotech company engaged in the development and commercialization of novel therapeutic technologies. BioMS Medical's lead technology, dirucotide (MBP8298), is for the treatment of multiple sclerosis and is being evaluated in two pivot
|SOURCE BioMS Medical Corp.|
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