| I. MODIFIED AGREEMENTS | |||
|
Biotech Co.* (Country; Symbol) |
Pharma Co. (Country) |
Change from original agreement | Terms/Details (Date) |
| Andromeda Biotech Ltd. (subsidiary of Clal Biotechnology Industries Ltd.; Israel; TASE:CBI) | Teva Pharmaceutical Industries Ltd. (Israel) | Amended agreement to license worldwide rights to Phase III diabetes drug DiaPep277 from Andromeda | Teva will invest $50M in Andromeda; it will have 60 days following an interim analysis of the ongoing Phase III DiaPep277 trial to invest $17.5M at a $90M pre-money valuation, and will invest an additional $17.5M at a $170M pre-money valuation, as well as $15M at an undisclosed point in time; Teva also will pay Andromeda royalties and will make additional payments if DiaPep277 is developed for other indications (12/3) |
| Exelixis Inc. (EXEL) | GlaxoSmithKline plc (UK) | Licensing agreement for the first of three possible options as part of a 2002 deal | GSK gains exclusive rights to XL880, a small molecule for kidney, gastric and head and neck cancers; Exelixis will receive a $35M selection milestone; upon successful commercialization, Exelixis would receive double-digit royalties on product sales and will retain certain co-promotion rights in North America (12/14) |
| Targacept Inc. (TRGT) | AstraZeneca plc (UK) | Agreement under which AstraZeneca paid $2M to secure an option to license TC-5619 under the terms of the companies' December 2005 partnership | Targacept will develop TC-5619 independently through Phase II, at which point AstraZeneca can license it for $40M up front, $226M in milestones and royalties (11/5) |
| II. TERMINATED AGREEMENTS | |||
| BioMarin Pharmaceutical Inc. (BMRN) | Merck Serono (division of Merck KGaA; Germany) | BioMarin reacquired the Canadian rights for tetra-hydrobiopterin (BH4), including Kuvan (sapropterin) | Kuvan is an oral small molecule for the treatment of phenylketonuria developed in partnership with Merck Serono (12/18) |
| Genelabs Technologies Inc. (GNLB) | Mitsubishi Tanabe Pharma Corp. (Japan) | Terminated agreement for the lupus drug Prestara | The 2004 agreement had given Tanabe responsibility for all development work and obtaining regulatory approval in Japan (11/19) |
| Maxygen Inc. (MAXY) | F. Hoffmann-La Roche Ltd. (Switzerland) | Terminated agreement for the development of MAXY-alpha (R7025), a pegylated interferon-alpha product for hepatitis B and hepatitis C | Rights will return to Maxygen; Roche placed a hold on the program after Phase Ia data showed lower drug levels in serum than expected (11/26) |
| Nastech Pharmaceutical Co. Inc. (NSTK) | Procter & Gamble Pharmaceuticals Inc. | Terminated partnership to develop and commercialize a nasally administered form of parathyroid hormone to treat osteoporosis | Nastech has reacquired the rights to teriparatide nasal spray; the original deal would have garnered Nastech about $600M |
|
Notes: # The information in the chart does not cover agreements between biotech companies or agricultural agreements. * Private companies are indicated with an asterisk.Unless otherwise noted, stock symbols listed are on the Nasdaq market. TASE = Tel Aviv Stock Exchange. | |||
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