Genzyme and Osiris partner on stem-cell program

piggy submitted, created time 2 months 3 days (www.boston.com)

Genzyme Corp. and Osiris Therapeutics Inc. said today they will partner to develop and commercialize adult stem cell products with the potential to treat a variety of diseases.

In a press release describing the agreement, Genzyme of Cambridge said it will make a $130 million up-front payment to Maryland-based Osiris, with $75 million paid initially and $55 million to be paid on July 1, 2009. In addition, Osiris also has the potential to receive a total of up to $1.25 billion in milestone payments from Genzyme

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