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BioWorld-International-2004-06-30
Biogen Idec Forms Parkinson's Deal With Vernalis For $100M
Biogen Idec Forms Parkinson's Deal With Vernalis For $100M
LONDON - Vernalis plc landed a deal potentially worth $100 million with Biogen Idec Inc. for Vernalis' Parkinson's disease program that is in Phase I work. Biogen is paying an initial license fee of $10 million and investing $6 million in Vernalis, with a promise to invest a further $4 million in any future Vernalis fund raising. (BioWorld International)