I. MODIFIED AGREEMENTS | |||
Biotech Co.*(Country; Symbol) | Pharma Co. (Country) | Change from original agreement | Terms/Details (Date) |
Biomira Inc. (Canada; BIOM; TSX:BRA) | Merck KGaA (Germany) | Amended collaboration and supply agreement relating to the Phase III lung cancer vaccine Stimuvax, as contemplated in a letter of intent in January | Merck will be responsible for worldwide development and commercialization and would pay Biomira milestones and royalties; Biomira retains responsibility for manufacturing the drug and would receive a $2.5M payment when the transaction clears U.S. antitrust authorities (8/8) |
DelSite Biotechnologies Inc. (unit of Carrington Laboratories Inc.; CARN) | Brookwood Pharmaceuticals Inc. | Extended a joint development agreement to continue an expanded evaluation of the GelSite drug delivery technology as a matrix for injectable applications and for selected classes of drugs | The extension aims at continuing the development program based on promising results over the past year (7/20) |
Galapagos NV (Belgium; BR: GLPG) | GlaxoSmithKline plc (UK) | Expanded multiyear alliance in osteoarthritis | GSK is purchasing 513,281 Galapagos shares for E4.4M (US$6M); GSK will bring a drug discovery program against a selected target into the alliance; Galapagos will progress a drug toward the end of Phase IIa trials (7/2) |
ImClone Systems Inc. (IMCL) | Bristol-Myers Squibb Co. | Expanded Erbitux collaboration in order to widen the label beyond colorectal and head and neck cancer | More money will finance Phase II and Phase III trials that could widen the label into lung cancer, as well as tumors of the brain, breast, bladder, gastric system, pancreas and prostate; BMS will pay all development costs up to a certain threshold, and anything beyond would be shared by both firms (7/30) |
Karo Bio AB (Sweden; SSE:KARO) | Wyeth | Extended atherosclerosis collaboration for an additional year until Aug. 31, 2008 | The companies began collaborating in 2001 and extended the agreement in August 2005 and again in August 2006 (7/2) |
NPS Pharmaceuticals Inc. (NPSP) | Nycomed A/S (Denmark); Drug Royalty Corp.* | Amended licensing deal from 2004 on Preotact | Nycomed gains the right to commercialize Preotact in all ex-U.S. territories, excluding Japan, for which NPS retains commercial rights, and Israel, which is the subject of a pre-existing deal (7/9); NPS sold Preotact royalties to Drug Royalty in return for $50M up front, and $25M if sales goals are met by 2010 (7/17) |
Santhera Pharmaceuticals AG (Switzerland; SWX:SANN) |
Takeda Pharmaceutical Co. Ltd. (Japan) | Extended their existing commercialization partnership for SNT-MC17 in the European Union and Switzerland to cover the compound's second indication of Duchenne's muscular dystrophy | Takeda gets exclusive marketing rights in exchange for an up-front payment of €2M (US$2.8M) and milestone payments upon initiation of a Phase III pivotal trial, as well as further milestones upon filing and granting of marketing authorization in Europe totaling €18M; Santhera also will receive running royalty income (8/3) |
II. TERMINATED AGREEMENTS | |||
AVEO Pharmaceuticals Inc.* | Merck & Co. Inc. | Completed cancer partnership that utilized AVEO's cancer models to identify and validate tumor maintenance genes as targets for small-molecule candidate drugs | Merck has exercised its exclusive right to advance the compounds into preclinical development; the companies will continue to collaborate on identifying genetic profiles that correlate with drug response in order to guide cancer clinical trials (8/9) |
Depomed Inc. (DEPO) | Esprit Pharma Inc. | Terminated supply and co-promotion agreement for ProQuin XR to treat uncomplicated urinary tract infections | Esprit has paid Depomed $17.5M, and will return the ownership of the Proquin NDA to Depomed along with all promotional materials (7/5) |
Exelixis Inc. (EXEL) | GlaxoSmithKline plc (UK) | Agreement under which Exelixis regains worldwide rights to XL647, which has had promising proof-of-concept data in non-small-cell lung cancer | GSK's reasoning was not evident, although Exelixis officials suggested the company decided not to pursue development after looking at its overall oncology portfolio; analysts suggested that GSK may have found the data of XL647 only mediocre (7/26) |
Genmab A/S CSE:GEN) | Merck Serono SA (unit of Merck KGaA; Germany) | Terminated agreement for HuMax-CD4 for cutaneous T-cell lymphoma; terminated agreement for the HuMax-TAC antibody | The companies signed the first $215M deal (Denmark; in August 2005 for exclusive worldwide rights; Merck Serono returned the rights due to strategic reasons that have nothing to do with pivotal trial data, which neither company has seen (6/29); the rights to HuMax-TAC antibody was licensed to Merck Serono in May 2005 (8/2) |
ImmuCell Corp. (ICCC) | Pfizer Animal Health | Terminated product development and marketing agreement covering Mast Out, its nisin-based mastitis treatment | ImmuCell believes the decision was market-driven and not due to efficacy, technical or regulatory issues (7/19) |
Medivir AB (Sweden; SSE: MVIRB) | Bristol-Myers Squibb Co. | Terminated development of the preclinical HIV compound MIV-170 because it did not meet the desired profile | Medivir licensed it to BMS in September 2006 (7/6) |
Metabasis Therapeutics Inc. (MBRX) | Schering-Plough Corp. | Terminated agreement for pradefovir, the lead candidate in the liver disease program | Metabasis had licensed the drug to Valeant Pharmaceuticals International, which out-licensed it to Schering-Plough; rodent studies showed a higher incidence of cancer when used at high doses (7/17) |
MethylGene Inc. (Canada; TSX:MYG) | Merck & Co. Inc. | Terminated agreement for the companies' 2003 research collaboration, returning all rights to the beta-lactamase inhibitor program to MethylGene | The Canadian firm expects no near-term financial impact and expects to seek an alternative partner for the program (8/2) |
Theratechnologies Inc. (Canada; TSX:TH) | Sakai Chemical Industry Co. Ltd. (Japan) | Terminated agreement for exclusive rights to Theratechnologies' lead compound, TH9507, in Japan | The rights were returned without financial compensation (7/18) |
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. BR = Brussels Stock Exchange; CSE = Copenhagen Stock Exchange; SSE = Stockholm Stock Exchange; SWX = Swiss Stock Exchange; TSX = Toronto Stock Exchange. |
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