TOTAL: $43.8M

Company
(Symbol)#*

Partner
(Country)

Amt.
(M)

Triggering
Event

Details (Date)


Alizyme plc
(UK; LSE:AZM)

Takeda Pharmaceutical Co. Ltd. (Japan)

$2

Milestone payment

Triggered by Takeda beginning a Phase II trial in Japan of cetilistat for treating obesity and related diseases (1/20)

Array
BioPharma
Inc.
(ARRY)

AstraZeneca plc (UK)

$1

Milestone payment

Triggered by selection of an additional clinical candidate in their small-molecule cancer program that began in December 2003 (1/24)

Avanir
Pharmaceuticals
Inc.
(AMEX:AVN)

AstraZeneca plc (UK)

$5

Milestone payment

Triggered by initiation of Phase I trials of AZD2479, a reverse cholesterol transport enhancer being developed under their July 2005 collaboration (1/3)

Codexis Inc.*

Bristol-Myers Squibb Co.

ND

Milestone payment

Triggered by achievement of the research milestone in their deal focused on improving biocatalyst productivity of a BMS product candidate (1/31)

Codexis Inc.*

Arch Pharmalabs Ltd. (India)

ND

Milestone payment

Arch integrated Codexis' biological catalysts and biocatalytic system into production of an intermediate used in the manufacture of a active pharmaceutical ingredient (1/5)

Cytori
Therapeutics
Inc.
(CYTX)

Olympus-Cytori Joint Venture (JV with Olympus Corp.; Japan)

$11

Milestone payment

Triggered by gaining the CE Mark, or approval in Europe, for the Celution System ,a device that can process adult stem cells from adipose (1/24)

4SC AG
(Germany; FSE:
VSC)

Sanwa Kagaku Kenkyusho Co. Ltd. (Japan)

ND

Milestone payment

Triggered by 4SC's identification of active agents against targets provided by SKK, under their January 2005 collaboration (1/17)

Human Genome
Sciences Inc.
(HGSI)

GlaxoSmithKline plc (UK)

$5

Milestone payment

Triggered by GSK's filing of an investigational new drug application to begin Phase I trials of GSK716155 (formerly Albugon) for treating diabetes (1/10)

ImmunoGen
Inc.
(IMGN)

Genentech Inc. (NYSE:DNA)

$2

Milestone payment

Triggered by the effectiveness of the IND application submitted by Genentech for the cancer product trastuzumab-DM1 (1/31)

Medarex Inc.(MEDX)

ImClone Systems Inc. (IMCL)

ND

Milestone payment

Triggered by acceptance of an IND application for a fully human IgG1 antibody, developed using Medarex technology, for treating cancer (1/30)

Medarex Inc.
(MEDX)

NovImmune SA* (Switzerland)

ND

Milestone payment

Triggered by NovImmune's filing of an IND to begin trials of NI-0401, a fully human antibody developed using Medarex technology, for treating autoimmune disease (1/19)

MorphoSys
AG
(Germany;
FSE:MOR)

F. Hofmmann- La Roche Ltd. (Switzerland)

ND

Milestone payment

Triggered by Roche's start of a Phase I trial of a HuCAL-derived antibody to treat Alzheimer's disease (1/25)

Pharmacopeia
Drug Discovery
Inc.
(PCOP)

NV Organon (the Netherlands)

ND

Milestone payment

Triggered by Pharmacopeia's delivery of two additional advanced lead compounds targetng metabolic and inflammatory diseases, under their 2002 collaboration (1/11)

Rigel Pharmaceuticals Inc. (RIGL)

Merck & Co. Inc.

ND

Milestone payment

The payment was triggered by undisclosed progress in their work on ubiquitin ligases for cancer and potentially other diseases (1/30)

Rigel
Pharmaceuticals
Inc.
(RIGL)

Serono SA (Switzerland; NYSE:SRA)

$5

Milestone payment

Triggered by the progress on the IND application for R763, for which Phase I trials in cancer patients will begin later in 2006 (1/26)

Tanox Inc.

Genentech Inc. (NYSE:DNA)

$12.8

Milestone payment

The milestone was triggered by sales of Xolair exceeding $300M in 2005 (1/23)

Trimeris Inc.
(TRMS)

Hoffmann-La Roche Inc.

ND

Milestone payment

Triggered by selection of two next-generation fusion inhibitor peptides for co- development, TR-291144 and TR-290999 (1/17)


Notes:

# Unless otherwise indicated, shares are traded on the Nasdaq exchange.

* Private company.

Currency conversions are based on exchange rates at the time of the deal.

ND = Not disclosed.

AMEX = American Stock Exchange; FSE = Frankfurt Stock Exchange; LSE = London Stock Exchange; NYSE = New York Stock Exchange.

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