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million milestone payment from . The Alameda-based developerr of gene delivery products said the payment allowsBayer HealthCare'zs Biological Products Division to continuse with the development program of which is currently under clinical investigation for gene therapy treatmentg of hemophilia B. Approximately 50,000 peopl e in North America and Europ ehave hemophilia, a sex-linked bleeding disorder caused by the absence or deficiency of a blood clotting Gene therapy represents a potential for a cure for peoplre with hemophilia B because it introduces the gene that is responsiblw for producing the factor IX clotting protein into the Bayer's investment in the developmenyt program included a $15 million purchase of Avigej stock, milestone payments, funding of the clinica l trial and certain manufacturing costs.
Avigen will receivr a royalty on net sales for its intellectual as well as a substantial shareof Coagulin-Bn sales. Avigen will manufacturre the product forworldwide distribution.
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