Indevus Pharmaceuticals, Inc. announced the signing of a License, Supply and Distribution Agreement with Orion Corporation granting Orion the rights to market Vantas (histrelin acetate subcutaneous implant) throughout Europe as well as certain other countries. Vantas is a 12-month implant for the treatment of advanced prostate cancer which was launched in the US in November 2004 and was approved for use in Denmark in 2005 and in the UK in 2007. Vantas is currently undergoing the mutual recognition procedure for further European approvals. The Vantas implant utilizes the Indevus patented Hydron polymer technology.

Under the terms of the agreement, Orion will pay Indevus a $7 million up-front payment and various contingent payments related to approvals and sales thresholds which total up to $14 million. Additionally, Indevus has agreed to supply Vantas to Orion at a pre-determined transfer price subject to annual minimum purchase requirements beginning in 2009.

"We are extremely pleased to be partnering with Orion for the sales and distribution of Vantas in Europe," said Glenn L. Cooper, M.D., chairman and chief executive officer, Indevus. "The European market opportunity for Vantas is potentially greater than the current US opportunity and having a partner with the capabilities of Orion will enable us to effectively address this market."

Dr. Liisa Hurme, senior VP, head, Proprietary Products business, Orion, said, "We are very excited to bring Vantas to the European market. As the only approved implant for the treatment of advanced prostate cancer, Vantas is a highly differentiated product and should be a compelling option for patients and physicians".

Vantas is a soft and flexible 12-month hydrogel implant that provides histrelin, a luteinizing hormone-releasing hormone (LHRH) agonist, for the palliative treatment of advanced prostate cancer. Vantas is contraindicated in patients with hypersensitivity to GnRH, GnRH agonist analogs, or any components in Vantas.