I. MODIFIED AGREEMENTS |
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Biotech Co.* | Pharma Co. | Change from | Terms/Details (Date) |
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Advanced | Smith & | Modified agreement in which Advanced Tissue sold its interest in the Dermagraft joint venture to partner Smith & Nephew | Advanced Tissue received net proceeds of $7M (11/22) |
Alkermes | Eli Lilly and Co. | Expanded agreement in which Lilly is buying $30M in newly issued convertible preferred stock from Alkermes, which will use it to pay for the joint development program for 2003 and 2004 | Alkermes gets an increase in the royalty rate payable for the potential product; Lilly has the right to exchange the preferred shares for a reduction in the rate back to the original level; the deal is focused on Alkermes' Advanced Inhalation Research pulmonary drug delivery system (12/13) |
Argenta | H. Lundbeck | Extended lead optimization project and expanded collaboration to include a new agreement on an additional Lundbeck target | Argenta will generate focused hit-finding libraries to identify druggable inhibitors of a Lundbeck-nominated target; Argenta will generate the libraries using a combination of medicinal and synthetic chemistry expertise, SAR analysis and in silico profiling (12/2) |
Atrix | Fujisawa | Exercised option for Fujisawa | Fujisawa licensed the exclusive North American marketing rights to Atrisone for acne, which is in Phase III trials; Fujisawa will be responsible for a significant portion of any research and development costs that arise (12/17) |
British Biotech | Serono SA (Switzerland) | Extended collaboration to | The agreement formed in October 2000 is extended for another year (10/28) |
Coley Pharma- | GlaxoSmithKline | Expanded alliance in the | Agreement to develop prophylactic and therapeutic cancer vaccines by combining Coley's CpG immunostimulatory oligonucleotides and GSK's cancer antigens; GlaxoSmithKline receives a worldwide nonexclusive license to the oligonucleo- tides, and Coley received $4M in license fees; the deal includes potential milestone payments and royalties (11/18) |
CuraGen | Ono Pharma | Expanded pharmacogenomics collaboration to allow Ono scientists to evaluate Ono's drug compounds for potential toxicities by using CuraGen's Predictive Toxicogenomics Screen | Ono scientists plan to rank compounds by their predicted safety profiles and use the information to select the most appropriate drug compounds to advance into further drug development (10/24) |
Durect Corp. | ALZA Corp. | Amended development | Under the amended agreement, Durect's maintenance of exclusivity in its licensed fields no longer is subject to minimum annual requirements for development spending or the number of products it has under development (11/12) |
EntreMed Inc. | Bristol-Myers | Renegotiated agreement to reorganize and rearrange payments due in connection with modifications to a 1995 alliance agreement, including stock purchase provisions | EntreMed will receive about 292,000 shares of EntreMed stock currently owned by BMS in exchange for certain payments to BMS now and over a future period of time (12/12) |
Evotec OAI | Pfizer Inc. | Extended screening technology partnership in a deal potentially valued in excess of $25M | The partnership began in June 1999 and covers biology services, technology development and the delivery of screening systems; under terms of the new three-year agreement, Evotec will provide newly developed ultra-high-throughput screening instrumentation; Evotec will develop certain technologies and biological assay systems as a service to Pfizer (10/31) |
Evotec OAI | Solvay | One-year extension to | Evotec chemists will design and synthesize collections of small, drug-like molecules around selected Solvay templates (11/25) |
Indevus | Eli Lilly and Co. | Renegotiated licensing | The revised agreement provides for an initial payment to Indevus and royalty payments from Lilly based on net sales of Sarafem in the U.S. until the expiration of the Indevus patent; the agreement includes other potential milestone payments to Indevus over the next several fiscal quarters; Galen Holdings plc will acquire the U.S. rights to Sarafem from Lilly (12/9) |
Inflazyme Pharmaceuticals | Aventis | Expanded respiratory | The expansion could be worth as much as $90M to Inflazyme; Aventis will fully fund further clinical development of IPL512,602 for asthma, as well as begin preclinical studies in allergic rhinitis (11/21) |
Isis Pharma- | Elan Corp. | Extended collaboration in the Orasense Ltd. joint venture through the end of the year | The joint venture is developing oral formulations of antisense drugs (11/6) |
Ligand | Elan Corp. | Restructured Avinza deal, eliminating Elan's co-promotion rights in North America and reducing Elan's royalty rate | Ligand paid Elan $100M in return for a reduction in Elan's royalty rate on sales of Avinza (12/9) |
Valentis Inc. | GlaxoSmithKline | Expanded license agreement | GSK will have the ability to use the technology for research purposes in all of its facilities for up to 10 years; Valentis will receive $1M in return (12/17) |
II. TERMINATED AGREEMENTS | |||
Arena | Eli Lilly and Co. | Terminated research collaboration for orphan G protein-coupled receptors | Lilly decided to end the collaboration early because of the high productivity of the collaboration, which has given Lilly an abundance of new products that meet its capacity (11/14) |
BioTransplant | Gambro BCT | Terminated agreement for the distribution of Eligix HDM Separation Systems | BioTransplant will pay Gambro an undisclosed amount to purchase unused inventory and Gambro agreed to provide customer support (12/5) |
Cephalon | Merckle GmbH (Germany) and Cepa Schwarz Pharma (Spain) | Terminated agreement for the marketing of modafinil in Spain, Germany, Austria, Switzerland and certain countries in Central and Eastern Europe | Cephalon reacquired rights to modafinil in Spain from Cepa Schwarz and in the other areas from Merckle; financial details were not disclosed; Modafinil is marketed to treat excessive daytime sleepiness associated with narcolepsy under the brand names Provigil, Modiodal, Vigil and Modasomil (12/18) |
Endovasc | GlaxoSmithKline | Terminated agreement for a temporary exclusive right to review and discuss scientific developments associated with Angiogenix | Endovasc said it has received interest from other companies and decided discussions with GlaxoSmithKline were not moving forward (11/11) |
Isis Pharma- | Elan Corp. | Terminated joint venture | Isis regains all rights to ISIS 14803 to treat hepatitis C (11/6) |
NeoPharm | Pharmacia | Terminated license agreement | NeoPharm terminated the agreement for what it said was Pharmacia's failure to use commercially reasonable efforts in the development programs for LEP and LED (11/21) |
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Notes: | |||
# The information in the chart does not cover agricultural agreements or those between biotech companies. | |||
* Private companies are indicated with an asterisk. | |||
Unless otherwise noted, stock symbols listed are on the Nasdaq market. | |||
LSE = London Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; TSE = Toronto Stock Exchange |