I. MODIFIED AGREEMENTS |
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Biotech Co.* | Pharma Co. (Country) | Change from original agreement | Terms/Details (Date) |
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Applied Molecular Evolution Inc. (AMEV) | Eli Lilly and Co. | Agreement to optimize an additional antibody candidate | The companies announced the initial collaboration in December for an antibody and a nonantibody protein; Applied Molecular will receive program funding and could receive additional milestone payments and royalties (2/21) |
Coley Pharmaceutical Group Inc.* | Aventis Pharma AG (Germany) | Expanded collaboration to include a drug discovery program to screen and evaluate second-generation immunomodulatory CpG product candidates for the treatment of asthma and allergic rhinitis | The expansion triggered a $2M milestone payment; Coley will provide Aventis Pharma with CpG product candidates optimized to redirect hypersensitive immune responses into more normal responses (3/13) |
Cubist Pharmaceuticals Inc. (CBST) | Novartis Pharma AG (Switzerland) | One-year extended agreement of Cubist's anti-infective drug discovery collaboration | The collaboration uses Cubist's VITA (validation in vivo of targets and assays for anti-infectives) technology (2/27) |
Discovery Laboratories Inc. (DSCO) | Laboratorios Del Dr. Esteve SA (Spain) | Expanded alliance to develop, market and sell Surfaxin throughout Europe, Central America and South America | Discovery will be paid $500,000 upfront, Esteve will purchase $4M of Discovery's common stock, and Discovery will receive milestone payments based on specific regulatory approvals (3/7) |
Epidauros Biotechnologies | Pharmacia Corp. | Expanded agreement signed between the companies in August | Epidauros will provide Pharmacia with pharmacogenetic testing and analytical services to support Pharmacia's clinical development programs; the agreement is expanded for three years; Epidauros will receive up-front and milestone payments, as well as royalties (4/10) |
ImClone Systems | Bristol-Myers Squibb Co. | Revised terms for a deal involving the colorectal cancer drug Erbitux | ImClone will lose $100M in milestone payments, but will get an added $200M up front, bringing the total up front to $400M; ImClone also will wait longer for a $250M portion of the deal; the 39% royalty rate will remain the same; the changes were made in response to the FDA's decision in February to refuse the rolling BLA, delaying an approval and market launch (3/6) |
InKine Pharma- | Procter & Gamble Pharmaceuticals Inc. | Modified co-promotion agreement for Visicol | P&G will continue to promote Visicol until Dec. 31, at which time both parties may choose to extend the collaboration (3/25) |
Ligand Pharmaceuticals Inc. (LGND) | Eli Lilly and Co. | Extended agreement until November 2003 | The companies have extended their research collaboration that focuses on Type II diabetes, cardiovascular disorders and obesity (4/12) |
Soltec Research Pty. Ltd. (subsidiary of Connetics Corp.; CNCT) | Novartis | Expanded license agreement for the Liquipatch drug delivery system for use in all topical antifungal applications | Novartis paid Soltec an undisclosed amount to exercise its rights to expand the license agreement, and will be responsible for all development costs, and will pay Soltec license fees, milestone payments and royalties (4/8) |
II. TERMINATED AGREEMENTS | |||
Labopharm Inc. (Canada; TSE:DDS) | Aventis SA (France) | Terminated license agreement for an unnamed product | Labopharm said it successfully completed feasibility and formulation studies before entering into the agreement in September (3/14) |
Miravant Medical Technologies Inc. (MRVT) | Pharmacia Corp. | Terminated agreements for SnET2 | Miravant terminated contractual relationships with Pharmacia, including the opthalmology development and license agreement and other related contracts for the drug SnET2; Miravant restructured the credit agreement in which Pharmacia reduced the outstanding debt from about $27M to about $10M (3/5) |
SuperGen Inc. | Abbott Laboratories Inc. | Terminated sales and marketing collaboration for rubitecan | The deal made in 1999 was valued at as much as $150M; Abbott said it needed to conserve its resources, but noted other concerns about clinical trials; SuperGen regains all rubitecan rights (3/5) |
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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. | |||
BLA = Biologics License Application | |||
TSE = Toronto Stock Exchange | |||
