Staff
CPPIB Credit Investments Inc. has acquired the royalty interest in Victrelis, a treatment for chronic hepatitis C.
Dendreon Corporation, a biotechnology company based in Seattle, sold the interest related to intellectual property licensed to Schering-Plough Ltd. and Schering Corporation, and associated with Victrelis, for $125 million.
The transaction is expected to close later this month. The intellectual property related to Victrelis was co-developed by Corvas International, Inc. and Schering, and was acquired by Dendreon in July 2003.
Victrelis, a hepatitis C virus protease inhibitor, was approved by the U.S. Food and Drug Administration on May 13, 2011 and by the European Commission on July 18, 2011.