We enter into partnerships and collaborations with companies to maximize commercial opportunities for all parties involved. We believe in leveraging the intellectual, financial, and commercial strengths of strategic corporate partnerships to bring the full potential of our product candidates to market.
We look to maximize the value of drug candidates that have resulted from our novel drug discovery research. To that end, we carefully evaluate prospective collaborations, seeking opportunities that have significant promise to build value and create returns for our investors. Our collaborations are intended to leverage our research and development capabilities to potentially move drugs to the market faster.
In December 2001, we entered into a license and supply agreement with Sigma-Tau Pharmaceuticals, Inc., under which Sigma-Tau obtained exclusive rights to distribute, market and sell defibrotide to treat VOD in the United States. In 2005, the Company expanded Sigma-Tau’s current license territory to all of North America, Central America and South America.
Furthermore, in October 2007, we entered into a cost sharing agreement with Sigma-Tau, pursuant to which Sigma-Tau agreed to reimburse us for 50% of certain developments costs relating to our Phase III clinical trial of defibrotide to treat severe VOD and for studies currently required for the filing of an NDA for Defibrotide.
In January 2010, the agreement was amended to include a license for the intravenous formulation of defibrotide for the prevention of veno-occlusive disease in the Americas.