I. MODIFIED AGREEMENTS | ||||
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Biotech Co.* | Pharma Co. (Country) (M) | Change from original agreement | Disclosed Funding | Terms/Details (Date) |
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Albany | Bristol-Myers | Agreement that replaces one between AMRI and DuPont Pharmaceuticals Co., which was acquired by Bristol-Myers | ND | The agreement is a new, three-year, multimillion-dollar agreement whereby Bristol-Myers will fund 30 fewer scientists than was called for in the original deal, but that continues the chemistry-based drug discovery and development services for Bristol-Myers' programs; the agreements gives BMS access to AMRI's natural products library; milestones from the deal potentially could reach $7M per compound (2/19) |
Alexion Pharma- | Procter & | Modified agreement in which the companies will share more equally in the development of pexelizumab and its profits | $95
| The original agreement was worth $95M; the modified agreement applies only to the United States (12/12) |
Antisoma plc | Abbott Laboratories | Amended licensing deal for Antisoma's lead product, pemtumomab, under development for the treatment of ovarian and gastric cancer | ND | Antisoma will receive enhanced royalties on all future sales, pending approval; the agreement also includes milestone payments, and allows Antisoma, under certain conditions, to regain marketing rights to the product; Antisoma will assume Abbott's share of development costs spread over the next three years (1/4) |
ArQule Inc. | Pfizer Inc. | Extended and expanded agreement for ArQule's lead generation capabilities | $345 | ArQule will transfer its library design and informatics platform to Pfizer on a nonexclusive basis; Pfizer will make an initial $10M equity investment in ArQule and may increase that stake by another $8M, based on milestones; ArQule can expect potential payments ranging from $120M to $345M over the next seven years (12/21) |
Bruker Daltonics | F. Hoffmann-La | Expanded alliance in proteomics | ND | The collaboration will focus on the development of efficient methods for mass spectrometric protein analysis, with the goal of increasing these analyses by innovative sample preparation and high-performance automation on the level of laboratory procedures, mass spectral data acquisition, data processing and newly designed software for protein analysis (1/25) |
Celera Gen- | Merck & Co. | Extended osteoporosis drug discovery collaboration for a sixth year, until November 2002 | ND | The collaboration focuses on the development of small-molecule inhibitors of cathepsin K (12/12) |
Cell Genesys | Japan Tobacco | Modified collaboration for GVAX cancer vaccines | ND | The companies had a 50-50 worldwide profit-sharing arrangement for GVAX prostate and lung cancer vaccines; Japan Tobacco will pay Cell Genesys an undisclosed royalty on GVAX lung cancer vaccine sales in Japan, Taiwan and Korea; Cell Genesys will pay Japan Tobacco the same royalty on sales in North America and the rest of the world; the companies will continue to share equally the development costs (11/26) |
Cephalon Inc. | Sanofi-Synthelabo | Expanded rights to Gabitril | $20.5 | The transactions include a $20.5M cash payment to Sanofi; Cephalon assumes rights to Gabitril worldwide, excluding Canada, Latin America and Japan (1/9) |
Discovery | Takeda Chemical | Expanded agreement to include a drug discovery research collaboration | ND | Discovery will use its lead discovery and optimization framework to discover and optimize compounds for a Takeda target; the collaboration includes fees and up-front payments (11/27) |
Evotec | Serono SA | Extended chemical library collaboration | EUR2.4 (US$2.1) | Evotec scientists will provide lead-optimization services and synthesize small-molecule-focused libraries exclusively for Serono's drug discovery projects for one year; in addition to program fees of EUR2.4M (US$2.1M), Evotec will receive milestone payments for all patented compounds that enter clinical trials and royalties on product sales (1/24) |
Gene Logic | Pfizer Inc. | Expanded relationship in which Pfizer licensed Genesis the GeneExpress Enterprise System, Gene Logic's software and professional services for enterprise-wide data integration initiatives | ND | The companies also entered into a predictive toxicology program agreement to generate a database related to the safety profile of compounds selected by Pfizer (12/21) |
Genome | Schering- | Extended genomics-based asthma research alliance | $80 | The extension allows for additional gene discovery work to continue; with the extension, total payments to Genome could be more than $80M, excluding royalties (1/2) |
MitoKor | Pfizer Inc. | Extended collaboration focusing on the discovery of novel targets and therapeutics based on mitochondrial dysfunction | ND | The collaboration was established in November 1998 and called for MitoKor to identify novel molecular targets and to develop screens to discover potential drug candidates for therapeutic intervention in neurodegenerative diseases (12/19) |
Pharmacopeia | Otsuka Pharma- | Expanded drug discovery collaboration for two years | ND | Otsuka agreed to expand the collaboration in which Pharmacopeia developed a cell-based assay and used its high-throughput screening technology to test compounds against an Otsuka target; the expansion enables Otsuka to pursue chemical optimization of these lead compounds (11/26) |
Ribozyme | Elan Corp. | Expanded collaboration to license Elan's liposome technology | ND | The technology will be used for the development and potential commercialization of RPI's ribozyme against the human epidermal growth factor (1/7) |
Rigel Pharma- | Johnson & | Extended oncology drug discovery collaboration for two years | ND | Rigel will continue to validate targets discovered during the collaboration; terms of the extension include continued research support for two years and an additional future development milestone for Rigel (1/7) |
Rivex Pharma | Newport Pharm- | Agreement to extend the North American distribution agreement | ND | The agreement was extended for two years with an option for five more years (2/4) |
XTL Biopharm- | AM-Pharma B | Extended research program for human lactoferrin peptide | ND | The program was initiated with Pharming Group NV, which was acquired by AM-Pharma; the new agreement grants XTL an option to take up an exclusive worldwide license to the lactoferrin peptide for the HCV indication (12/17) |
II. TERMINATED AGREEMENTS |
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AnorMED | AstraZeneca | Terminated development agreement for ZD0473 | ND | AnorMED regains all rights to the product candidate (11/26) |
Digene Corp. | Abbott | Terminated licensing agreement for Digene's chlamydia and gonorrhea tests | $2.5 | Digene paid about $2.5M in common stock for the re-acquisition of rights and agreed to repurchase Hybrid Capture instrumentation used for HPV, chlamydia and gonorrhea testing previously purchased by Abbott (2/1) |
Flamel Tech- | Novo Nordisk | Terminated license agreement for the development of Basulin | $42 | The companies entered the agreement in December 1999; Flamel received about $10M out of the potential $42M deal (1/11) |
GenVec Inc. | Pfizer Inc. | Terminated agreement for the co-development of BioBypass for coronary artery disease and peripheral vascular disease | $90 | The agreement will end in six months; GenVec regains all development and commercialization rights for the BioBypass angiogen to GenVec; Pfizer had spent upwards of $90M on developing the product, but decided it did not fit in with its current business strategy (1/24) |
Iomed Inc. | Santen Pharma- | Terminated collaboration involving the development of the noninvasive ophthalmic drug delivery OcuPhor System | ND
| Santen decided the therapeutic index was too low for the drug to be considered for further development (2/7) |
Oncolytics | Pfizer Inc. | Terminated agreement to develop the reovirus as an animal health care product | ND | Oncolytics plans to focus on the development of Reolysin as a human therapeutic (1/11) |
PPD Discovery | Agouron Pharmaceuticals | Terminated agreement for rights to PPD's HIV targets | $30 | The original deal potentially was worth more than $30M (1/31) |
SkyePharma | Bioglan Pharma | Terminated agreements concerning the license of the product Solaraze for marketing in Europe, the U.S., Canada and Mexico | $10 | Bioglan has been asked to provide redress for certain alleged material breaches raised in the notice to terminate; the agreements provided for SkyePharma to receive payments from Bioglan totaling $10M by the end of 2001 (11/20) |
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Notes: |
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# The information in the chart does not cover agreements between biotech companies or agricultural agreements. |
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* Private companies are indicated with an asterisk; unless otherwise noted, stock symbols listed are on the Nasdaq market. |
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ND = Not disclosed, reported and/or available |
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AMEX = American Stock Exchange; LSE = London Stock Exchange; NYSE = New York Stock Exchange; TSE = Toronto Stock Exchange |