A discovery that could help millions of diabetics worldwide is the subject of a lucrative pharmaceutical deal that will enrich the Toronto hospital that created it - part of a growing trend of selling science to help shore up Canada's troubled health-care system.
Tuesday's agreement between Sanofi-Aventis and Sunnybrook Health Sciences Centre on a wound-healing molecule demonstrates how entrepreneurial hospitals can become when the very sustainability of medicare is in question.
But the licensing deal with one of the world's biggest drug companies ...
Bridgewater, NJ and Toronto, ON- February 15, 2011 - Sanofi-aventis (EURONEXT: SAN and NYSE: SNY) and Sunnybrook Health Sciences Centre (Toronto, Canada) announced that they have entered into a research agreement and licensing option for vasculotide, an investigational compound to treat chronic wounds. This includes neuropathic diabetic foot ulcers caused by a lack of sensation and neuropathic ulcers that are complicated by peripheral arterial disease, commonly called neuroischemic diabetic foot ulcers.
“Our new relationship with Sunnybrook Health Sciences Centre fits our strategy ...