Biotech Co.** |
Pharma Co. (Symbol/Country) |
Type/Product Area |
Amount |
Terms/Details (Date) |
Aurora Biosciences Inc. | Pfizer Inc. (NYSE:PFE) |
Technology access agreement; Aurora will provide automated systems (including those for compound storage, high-throughput screening and multiple ion channel lead discovery platforms) at Pfizer research facilities worldwide | $50M | Contract includes $50M in guaranteed payments, plus milestones, profit-sharing for commercialized compounds identified using the system, and funding related to the exercise of various options included in the deal (6/99) |
Centocor Inc. |
Covance (NYSE:CVD |
Long-term manufacturing agreement under which Covance will produce Centocor's Retavase for the U.S. and Canadian markets |
ND |
ND (4/99) |
Cephalon Inc. |
Abbott Laboratories (NYSE:ABT) |
Collaborative agreement to further develop and market Abbott's Gabitril, an anti-epileptic drug, in the U.S.; Abbott gains a right of first negotiation to develop and promote Cephalon's Provigil (an FDA-approved narcolepsy drug) should Cephalon elect to collaborate with a 3rd party in the U.S. |
ND | Cephalon is required to make certain promotional and clinical development expenditures, and will share in growth of the product sales beyond a contractually specified baseline; Abbott has a right of first negotiation to develop and pro-mote Cephalon's Provigilin the U.S. (6/99) |
H. Lundbeck A/S (Denmark) | Development and marketing agreement for Cephalon's preclinical-stage receptor tyrosine kinase inhibitors |
$40M |
Cephalon will receive aprox-imately $40M, which includesan up-front license fee, research and milestone payments, and an equity investment of $12M (1M Cephalon shares at $12 each); Lundbeck will also share development costs and support research; Lundbeck gains commercial rights in Europe and certain other territories (6/99) | |
Cypress Bioscience Inc. |
Fresenius AG (Germany) |
Fresenius exercised option to acquire manufacturing rights for Cypress' Prosorba column for treating rheumatoid arthritis |
$5.2M |
Fresenius gained the option as part of marketing alliance signed 3/99; the $4M Cypress had drawn down from a line of credit will be applied to the purchase price of the facility, and Fresenius paid an additional $1.2M to exercise the purchase option (4/99) |
DiagnoCure Inc.(Canada;MSE:CUR) |
Medite Histotechnic Italia (Italy) |
Distribution agreement under which Medite will distribute in Italy DiagnoCure's ImmunoCyt diagnostic test for the detection of superficial bladder cancer using monoclonal antibodies |
ND |
ND (3/99) |
Euro-Diagnostica AB (Sweden) |
Distribution agreement under which Euro-Diagnostica will distribute ImmunoCyt's monoclonal antibody-based diagnostic test for superficial bladder cancer in Sweden, Norway, Denmark and Finland | ND | ND (5/99) | |
Digene Corp. |
Abbott Laboratories (NYSE:ABT) |
Sales and marketing agreement under which Abbott will handle those responsibilities for Digene's women's health and blood virus DNA testing products in Europe, the Middle East and Africa; agreement replaces Digene's agreement with International Murex Technologies Corp., which Abbott acquired in 1998- | ND |
ND (5/11) |
Draxis Health Inc. (Canada) |
Elan Corp. plc (Ireland) |
Draxis licensed from Elan exclusive Canadian rights to 8 neurology products, of which 3 are approved, 3 are nearing approval and 2 are late-stage; products include Zanaflex (tizanidine hydrochloride; approved); Diastat (diazepam rectal gel; approved), Mysoline (primidone; approved), frovatriptan, NeuroBloc (botulinum toxin type B), ziconotide, Zonegran (zonisamide) and Zelapar (selegiline hydrochloride flashtab) |
Elan to receive $12M, but will purchase $8M in Draxis equity |
Draxis will pay Elan a 1-time up-front fee of $12M; Elan will purchase 3.04M treasury shares of Draxis at a price per share of $2.63 ($8M total), a premium to trading price, representing a stake of 8.6%; Everen Securities acted as financial advisor to Draxis; Elan will supply manufactured products to Draxis and provide assistance with pricing and regulatory and launch activities; agreement expires 12/31/98 (6/99) |
Epitope Inc. |
Organon Teknika Ltd. (subsidiary of Akzo Nobel; the Netherlands) |
Organon will collaborate on final development of OraQuick (an oral fluid rapid assay test for HIV infection) and will manufacture initial pre-production lots | ND |
If product succeeds in winning approvals, companies plan to negotiate a long-term manufacturing and supply agreement (4/99) |
IDEC Pharmaceuticals Inc. |
Schering AG (Germany) |
Marketing and distribution agreement for IDEC's Zevalin (Ibritumomab Tiuxetan; formerly called IDEC Y2B8), an anticancer monoclonal antibody conjugated to yttrium-90; product is in development as therapy for low-grade and/or follicular non-Hodgkin's B-cell lymphoma | $47.5M |
Schering will pay IDEC $13M as an up-front licensing fee and will provide $15M in committed funding for Zevalin; IDEC may receive up to $19.5M in additional milestones, plus a royalty on sales outside the U.S.; Schering gains exclusive marketing rights outside the U.S.; IDEC retains U.S. rights (6/99) |
Maxim Pharmaceuticals Inc. | F.H. Faulding & Co. Ltd. (Australia) |
Marketing agreement for Maxim's Maxamine anti-cancer therapy in Australia and New Zealand |
ND | Faulding will pay marketing rights fees and milestones, and provide clinical and regulatory assistance; Faulding will assume responsibility for registration and marketing approval and related applications for reimbursment in Australia and New Zealand; combined with agreement for Israel (see below), Maxim expects to receive a 40% or greater share of Maxamine sales with in these territories (5/99) |
MegaPharm Ltd. (Israel) |
Marketing agreement for Maxim's Maxamine anti-cancer therapy in Israel |
ND |
As part of the agreement, MegaPharm will manage the Israeli component of 3 clinical trials and also will assume responsibility for approval application in Israel; combined with agreement for Australia and New Zealand (see above), Maxim expects to receive a 40% or greater share of Maxamine sales within these territories (5/99) | |
Palatin Technologies |
Mallinckrodt Inc. (NYSE:MKG) |
Worldwide marketing agreement (excluding Europe) for Palatin's LeuTech radiolabeled infection imaging agent |
$23M ($13M equity purchase) |
Mallinckrodt gains exclusive worldwide license (excluding Europe) for sales, marketing and distribution of LeuTech products; Palatin will receive milestone payments, funding for 50% of development and clinical testing expenses for all indications covered in the agreement, a transfer price for LeuTech sales to Mallinckrodt and a royalty on sales; Malllinckrodt will purchase $13M worth of restricted, unregistered convertible preferred shares, which are convertible after 5 years to 0.7M common shares; milestones include $5M upon FDA marketing clearance and $5M when Mallinckrodt's LeuTech sales reach $20M (5/99) |
PathoGenesis Corp. | Swedish Orphan AB |
Distribution agreement for PathoGenesis' TOBI (tobra-mycin solution for inhalation) in Sweden, Denmark, Norway and Finland; drug is currently under review in the U.K., the lead country for seeking approval in the European Union | ND | ND (5/99) |
PulmoPharm (Germany) |
PulmoPharm will market PathoGenesis' TOBI (tobra- mycin for inhalation) for cystic fibrosis in Germany upon the drug's approval |
ND |
PathoGenesis purchased equity amounting to 20 percent of PulmoPharm at an undisclosed price (5/99) |
|
SangStat Medical Corp. |
Abbott Laboratories (NYSE:ABT) |
Co-promotion, distribution and research agreement for SangStat's SangCya (cyclo-sporine oral solution; FDA-approved) in the U.S. |
$14M (equity purchase) | Partnership marks continuation of initial agreement for Abbott to provide bulk cyclosporine to SangStat; Abbott will make a $14M equity purchase in SangStat, make up-front and milestone payments, and will make a long-term loan to SangStat (5/99) |
SciClone Pharmaceuticals |
Sigma-Tau SpA (Italy) |
Sigma-Tau will market SciClone's Zadaxin thymosin alpha 1 for treatment of cancer and hepatitis in Italy, Spain and Switzerland |
ND |
Sigma-Tau receives semi-exclusive development and marketing rights in Italy and Spain, and exclusive rights in Switzerland; Sigma-Tau will be responsible for clinical development and regulatory submissions in Italy (4/99) |
Triangle Pharmaceuticals Inc. |
Abbott Laboratories (NYSE:ABT) |
Marketing agreement for 6 antiviral products, 4 from Triangle and 2 from Abbott; Triangle products are Coviracil (for HIV and hepatitis B virus), Coactinon (formerly MKC-442; for HIV), DAPD (for HIV) and L-FMAU (for HBV) |
$335M ($118M equity) |
In the U.S., Abbott and Triangle will co-promote 4 Triangle products currently in development for HIV and hepatitis B virus, and Abbott's 2 HIV protease inhibitors (Norvir, which is FDA-approved, and Phase III-stage ABT-378); outside the U.S., Abbott will have exclusive sales and marketing rights for the 4 Triangle antivirals; Abbott will purchase 6.57M shares of >Triangle stock at $18 per share, for a total of $118M; additionally, Abbott will provide research funding of $31.7M and up to $185M in milestones, plus will share future commercialization costs; companies will share profits and losses for all Triangle drug candidates, and Triangle will receive detailing fees and commissions on incremental sales generated for the Abbott products; Abbott will have right of 1st discussion on future Triangle compounds, and the partners plan to execute a manufacturing agreement to allow Abbott to produce certain Triangle products worldwide; Warburg Dillon Read acted as financial adviser to Triangle, and Goldman Sachs advised Abbott (6/99) |
Vivus Inc. |
Bio-Medic Institute Inc. (Japan) |
Agreement for registration and commercialization of Vivus' Muse (alprostadil; for erectile dysfunction) in Japan |
$5M |
Bio-Medic will make a $5M up-front payment to Vivus and assume responsibility for all clinical and regulatory activities necessary for registration of Muse in Japan; Vivus will manufacture and sell Muse to Bio-Medic (5/99) |
NOTES: | ||||
# This chart does not include any marketing and/or distribution agreements that involve agricultural product development. The information in the chart covers the time period between 4/1/99 and 6/30/99. | ||||
ND = Not disclosed, reported and/or available; NYSE=New York Stock Exchange; ASX=Australian Stock Exchange | ||||
* Private companies are indicated with an asterisk. | ||||
** Unless otherwise noted, the trading symbols for public biotechnology companies can be found by referring to the BioWorld Stock Report For Public Biotechnology Companies on pp. 14 - 15. |