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U.S. Approval, Sales Milestones Could Double PneumRx Price For BTG

Contingency payments based on regulatory and sales milestones for lead emphysema product RePneu could double the price BTG pays for U.S. biotech PneumRx, the latest addition to the United Kingdom company’s interventional medicines business.

With European sales of PneumRx Inc.’s RePneu Coil emphysema device only reaching $16 million last year, the amount BTG PLC pays for the Mountain View, Calif.-based company depends critically on U.S. marketing approval being obtained for the emphysema product, expected in 2016.

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