Grifols signs deal to license Aradigm's Pulmaquin

MADRID Tue May 21, 2013 2:47am EDT

MADRID May 21 (Reuters) - Spanish drugmaker Grifols said on Tuesday it has signed an exclusive contract to license U.S. Aradigm Corporation's Pulmaquin compound and may take a stake in the California-based firm.

Pulmaquin is a dual release ciprofloxacin for inhalation in non-cystic fibrosis bronchiectasis.

In a regulatory filing, Grifols said it will invest up to $65 million to help develop the compound and may spend $25.7 million to buy a 35 percent stake in Aradigm through a capital hike at the U.S. firm, which posted a net loss in the first quarter.

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