MedGenesis Therapeutix Inc. (MedGenesis), announced that it has regained all rights to glial cell line-derived neurotrophic factor (GDNF) protein and related Convection Enhanced Delivery (CED) technology from Biovail Laboratories International SRL (BLS), a wholly owned subsidiary of Valeant Pharmaceuticals International, Inc.  

MedGenesis and BLS agreed to conclude their previously established collaboration to develop and commercialize GDNF, returning the product to MedGenesis together with a one-time cash payment of $5 million to accelerate the development of GDNF in Parkinson’s disease. At the same time, MedGenesis has broadened GDNF applications to hearing loss and epilepsy.

MedGenesis is a privately-held biopharmaceutical company committed to developing and commercializing innovative therapeutics to provide life-enhancing treatments to patients with serious neurologic diseases. MedGenesis is a worldwide leader in Convection Enhanced Delivery (CED), a minimally invasive technique that provides for targeted, local treatment of CNS conditions such as epilepsy, brain cancer and other severely debilitating diseases of the CNS.