Company**

Partner(Symbol)

Amt.(M)

TriggeringEvent

Details (Date)

AntexBiologics (OTC Bulletin Board: ANTX)

Pasteur Merieux Connaught (unit of Rhone-Poulenc Group; France)

0.15

Results of Phase Ia clinical trial on vaccine for ear infections

The companies signed a licensing agreement in 12/94 on Antex s recombinant Haemophilus influenzae (nontypeable) vaccine for treating inner ear infections (otitis media) in infants and children and upper respiratory disorders in the elderly; due to encouraging results of Phase Ia trial in adults, Antex received its 2nd milestone payment (1/98)

ArQule Inc.

Wyeth-Ayerst Pharmaceuticals (division of American Home Products Corp.; NYSE:AHP)

2

Equity

The companies signed a broad drug discovery agreement in 7/97; the $2M equity investment is in accordance with the terms of that agreement (6/98)

Atrix Laboratories Inc.

Block Drug Corp. (NASDAQ:BLOCA)

7

Approvable letter on Atridox

The companies entered an agreement in 12/96 for Block Drug to market Atridox in North America; the FDA sent Atrix an approvable letter for Atridox for treating periodontal disease, triggering the $7M milestone payment (4/98)

Atrix Laboratories Inc.

Block Drug Corp. (NASDAQ:BLOCA)

5

FDA approval of Atridox

The companies entered an agreement in 12/96 for Block Drug to market Atridox in North America; the FDA approved the product on 9/8/98 for treating periodontal disease, triggering the milestone payment (9/98)

Atrix Laboratories Inc.

Block Drug Corp. (NASDAQ:BLOCA)

5

First product shipment

The companies entered an agreement in 12/96 for Block Drug to market Atridox for treating periodontal disease in North America; Block began the 1st shipment of product to dentists, triggering the $5M milestone payment (10/98)

Axiom Biotechnologies Inc.*

Cadus Pharmaceutical Corp.

2

Equity

The companies signed a licensing agreement on Axiom s high-throughput pharmacological screening system (HT-PS) in 5/97; Cadus received the 1st HT-PS system, triggering its purchase of $2M in Axiom preferred stock (giving Cadus a total of 30% ownership) (6/98)

Cadus Pharmaceutical Corp.

SmithKline Beecham plc (NYSE:SBH; U.K.)

2

Technology development fee

The companies signed a functional genomics collaboration in 2/97; Cadus got a scheduled $2M technology development fee as part of that collaboration (3/98)

Cadus Pharmaceutical Corp.

SmithKline Beecham plc (NYSE:SBH; U.K.)

5

Equity

Cadus exercised its option to issue and sell $5M in common stock (0.66M shares at $7.56/each) to SmithKline Beecham; Cadus acquired the option as part of its 2/97 collaboration with SmithKline on functional genomics (5/98)

Cell Genesys Inc.

Hoechst Marion Roussel Inc. (subsidiary of Hoechst AG; Germany)

2

Initiation of Phase III trial of gene-activated EPO

The companies signed a licensing agreement in 2/97 on Cell Genesys gene-activated erythro-poietin (EPO) and a 2nd undisclosed protein; Hoechst Marion Roussel initiated a Phase III clinical trial of the product (which it is developing with Transkaryotic Therapies Inc.), triggering the milestone payment (9/98)

Cor Therapeutics Inc.

Schering-Plough Corp. (NYSE:SGP)

8

Acceptance for review by European Union of marketing application on Integrilin

The companies signed a collaboration on Integrilin in 4/95; the European Medicines Evaluation Agency accepted for review the marketing application on Integrilin, triggering the $8M milestone payment (2/98)

Cor Therapeutics Inc.

Schering-Plough Corp. (NYSE:SGP)

24

FDA approval of Integrilin

The companies signed an agreement to develop and market Integrilin (a small molecule synthetic compound that inhibits the GPIIb/ IIIa receptor that mediates platelet aggregation) in 4/95; the FDA approved the drug 5/19/98 for treating patients with acute coronary syndromes and as an adjunct to percutaneous coronary intervention; Cor received a $24M milestone payment for the approval (6/98)

Corvas International Inc.

Pfizer Inc. (NYSE:PFE)

1

Initiation of clinical trial

In 2/97, Pfizer exercised its option under a 10/95 agreement between the 2 companies to license and develop neutrophil inhibitor factor as a stroke therapy; Pfizer has started a Phase I trial, triggering the milestone payment (2/98)

Corvas International Inc.

Schering-Plough Corp. (NYSE:SGP)

1

Initiation of Phase I clinical trial

The companies signed an R&D agreement on oral anti-thrombotic drugs for treating chronic cardiovascular disorders in 12/94; Schering-Plough started Phase I trials of a drug candidate, triggering the milestone payment (6/98)

Cytogen Corp.

The DuPont Merck Pharmaceutical Co.

3.8

Termination of agreement on Quadramet

The companies signed a licensing and marketing agreement on Quadramet (Samarium 153 EDTMP) for treating bone pain from cancer that has spread to the bone in 12/94; that agreement was terminated and Cytogen received a $3.8M payment from DuPont Merck (6/98)

Diatide Inc.

Nycomed Amersham plc (U.K.)

2

Submission of NDA for NeoTect

The companies signed a marketing agreement in 8/95 that covers Diatide s TechTides (peptide-based imaging agents); Diatide submitted an NDA for NeoTect (a lung cancer imaging product) in 6/98, for which it received the $2M milestone payment (8/98)

Diatide Inc.

Nycomed Amersham plc (U.K.)

2

FDA approval of AcuTect

The companies signed a marketing agreement in 8/95 that covers Diatide s TechTides (peptide-based imaging agents); FDA approved AcuTect on 9/15/98 for imaging venous thrombosis, triggering the payment (9/98)

GelTex Pharmaceuticals Inc.

Genzyme Corp.

15

FDA approval of Renagel Capsules

The companies formed a joint venture for marketing Renagel in 6/97; FDA approved the phosphate binder for reducing serum phosphorus in end-stage renal disease on 11/2/98, triggering the milestone payment (11/98)

GeneMedicine Inc.

Corange International Ltd. (Bermuda)

5.3

Scheduled payments (equity; R&D) per terms of alliance

The companies signed a collaboration on gene medicines for treating various cancers in 7/95; Corange bought $4M in GeneMedicine stock (0.53M shares at $7.50 each) and paid a $1.25M quarterly R&D payment (2/98)

Gensia Sicor Inc.

SangStat Medical Corp.

2.5

Commercial supply agreement on bulk cyclosporine

The companies signed a supply agreement in 4/97 for Gensia Sicor s commercial-scale production of bulk cyclosporine; SangStat bought $2.5M in Gensia Sicor stock in connection with the agreement (1/98)

Genzyme Transgenics Corp.

SMI Genzyme Ltd. (joint venture between Genzyme Transgenics and Sumitomo Metals; Japan)

2

Audit of production facility for rhATIII

SMI Genzyme was formed in 1990 to develop recombinant human antithrombin III (rhATIII) in milk of transgenic goats; SMI paid $2M as milestone on successful independent audit of the commercial-scale production facility (1/98)

Geron Corp.

Pharmacia & Upjohn Inc. (NYSE:PNU; U.K.)

4

Stock purchase

The companies signed a definitive agreement on anticancer drugs that inhibit telomerase in 3/97; as part of that agreement, Pharmacia & Upjohn bought $4M of Geron s common stock (premium to market) (3/98)

Guilford Pharmaceuticals Inc.

Amgen Inc.

1

Initiation of toxicology study on NIL-A

The companies signed a major collaboration in 8/97 to develop Guilford s FKBP-neuro-immunophilin ligands; a toxicology study of the lead compound NIL-A (for treating Parkinson s disease) was initiated, triggering the milestone payment (9/98)

The Immune Response Corp.

Agouron Pharmaceuticals Inc.

5

Quarterly payment

The companies entered an agreement in 6/98 to collaborate on the final development and commercialization of the immune-based therapy Remune for treating HIV infection; this is the 1st in a series of quarterly payments Agouron will make to Immune Response; it consists of $3M for R&D and $2M for the purchase of 0.13M shares of unregistered common stock (10/98)

Immunex Corp.

Wyeth-Ayerst Laboratories (division of American Home Products Corp.; NYSE:AHP)

20

Submission of BLA for Enbrel

The companies signed a broad marketing agreement on Enbrel in 9/97; Immunex completed its submission of the BLA on Enbrel (soluble tumor necrosis factor receptor) for treating active rheumatoid arthritis, trigger-a $20M milestone payment (5/98)

IntraBiotics Pharmaceuticals Inc.*

Pharmacia & Upjohn Inc. (NYSE: PNU; U.K.)

1

Completion of Phase I trial of Protegrin IB-367

The companies entered an agreement in 10/97 to develop and market the topical antimicrobial compound IB-367 (synthetic peptide based on natural host defense peptide protegrin) for treating oral mucositis; IntraBiotics completed the Phase I trial, triggering a $1M milestone (12/98)

Isis Pharmaceuticals Inc.

CIBA Vision Corp. (division of Novartis AG; Switzerland)

5

Submission of NDA on fomivirsen (a.k.a. Vitravene)

The companies entered an agreement in 7/97 for CIBA Vision to market fomivirsen worldwide; the partners jointly submitted an NDA for the antisense drug (for treating AIDS-related cytomegalovirus retinitis), triggering the $5M milestone payment (4/98)

Isis Pharmaceuticals Inc.

Ciba Vision Corp. (division of Novartis AG; Switzerland)

7.5

FDA approval of Vitravene

The companies entered an agreement in 7/97 for Ciba Vision to market Vitravene worldwide; FDA approved the product on 8/27/98 for treating cytomegalovirus retinitis in AIDS patients, triggering the milestone payment (9/98)

La Jolla Pharmaceutical Co.

Abbott Laboratories (NYSE:ABT)

4

Terms of alliance

The companies entered an agreement in 12/96 to develop and market LJP 394 for treating lupus nephritis; per terms of the agreement, Abbott bought 1.54M shares of La Jolla stock for $4M (11/98)

Medarex Inc.

Eisai Co. Ltd. (Japan)

0.8

Manufacturing and development progress on MDX-CD4

The companies signed an agreement in 10/97 to develop fully human monoclonal antibodies via Medarex s HuMAb-mouse technology; the $0.75M milestone was achieved for progress on the 1st antibody, MDX-CD4, for treating rheumatoid arthritis and other autoimmune diseases (9/98)

Medarex Inc.

Merck KGaA (Germany)

1.2

Clinical progress of MDX-477

The companies signed an agreement to collaborate on the development of Medarex s MDX-477 bispecific antibody for certain cancers in 4/94; the product is now entering Phase II trials in head and neck cancer, triggering a $1.2M equity investment (0.192M shares of Medarex common stock) by Merck KGaA (8/98)

Medarex Inc.

Xenotech LP (joint venture between Cell Genesys Inc., its subsidiary Abgenix Inc. and Japan Tobacco Inc.)

7.5

Issuance of European patent on Medarex s HuMAb-Mouse technology

GenPharm International Inc., which has since been acquired by Medarex, entered into a cross-licensing agreement on human monoclonal antibody technology with Xenotech in 3/97; GenPharm (Medarex) was due 2 milestones of $7.5M each as part of the agreement, including when Gen-Pharm s patent on HuMAb-mouse technology issued (1/98)

Medarex Inc.

Xenotech LP (joint venture between Cell Genesys Inc., its subsidiary Abgenix Inc. and Japan Tobacco Inc.)

7.5

Terms of crosslicensing agreement

The parties entered a cross-licensing agreement on all issued and related patent applications on the generation of fully human antibodies in genetically modified mice in 3/97; this is 2nd of two $7.5M payments (11/98)

MedImmune Inc.

Abbott Laboratories (NYSE:ABT)

15

FDA approval of Synagis

The companies signed a worldwide marketing agreement on Synagis in 12/97; the FDA approved the product (a humanized monoclonal antibody to respiratory syncytial virus; RSV) for preventing the disease in high-risk infants and children on 6/19/98; Abbott paid MedImmune a $15M milestone on FDA approval (6/98)

NeoRx Corp.

Janssen Pharmaceutica NV (Belgium; unit of Johnson & Johnson; NYSE:JNJ)

7

Janssen decided to initiate Phase II trials of Avicidin

The companies formed a strategic alliance in 8/97 to develop NeoRx s Avicidin radioimmunotherapy product for cancer; Janssen decided to take the product into Phase II trials in lung, colon and prostate cancer once FDA clearance obtained; NeoRx got $7M for this milestone (1/98)

NovaDx International Inc. (VSE:NVN)

Metra Biosystems Inc.

0.55

First commercial sales of blood test for arthritis

The companies signed a licensing and development agreement in 1/96 on NovaDx s Chondrex blood test for arthritis; Metra is now marketing the test and has completed beta testing; Metra bought 2.57M special warrants of NovaDx at US$0.214 each for total of US$0.55M; each special warrant is convertible into 1 common share of NovaDx (prices converted at rate of C$1.43/ US$1) (1/98)

NPS Pharmaceuticals Inc.

SmithKline Beecham plc (NYSE:SBH; U.K.)

1.8

Terms of alliance

The companies entered an agreement in 12/93 on orally active small-molecule drugs that act on calcium receptors for treating osteoporosis; the agreement was extended in 12/97; as per those terms, SmithKline is to buy equity in NPS on an annual basis; it bought 0.2M shares at $8.87 each for a total investment of $1.8M (11/98)

Organogenesis Inc.

Novartis Pharma AG (Switzerland)

3.8

Milestone payment

Organogenesis signed a licensing agreement on Apligraf with Sandoz Ltd. (which is now Novartis) in 1/96; Novartis paid $0.75M in research support and bought $3M in new Organogenesis equity under the terms of that agreement (3/98)

Organogenesis Inc.

Novartis Pharma AG (Switzerland)

7.7

FDA approval of Apligraf

Organogenesis signed a licensing agreement on Apligraf with Sandoz Ltd. (which is now Novartis) in 1/96; upon FDA approval of Apligraf, Novartis bought $6M in Organogenesis equity and paid an additional $1.7M in research/milestones (together with the $3.75M that Organogenesis got in 3/98, total payments related to product approval equal $11.5M) (5/98)

Pharmacopeia Inc.

Daiichi Pharmaceutical Co. Ltd. (Japan)

3

Research milestone

The companies entered a research collaboration on use of combinatorial chemistry and high-throughput screening for drug discovery in 4/96; Pharmacopeia achieved a key preclinical milestone, for which Daiichi invested $3M in Pharmacopeia equity (1/98)

Protein Design Labs Inc.

Toagosei Co. Ltd. (Japan)

2

Equity investment

The companies entered an agreement in 9/96 for Protein Design Labs to humanize one of Toagosei s antibodies; Toagosei bought $2M in Protein Design Labs equity (0.045M shares at $44.875 each) in 4Q:97 (2/98)

Regeneron Pharmaceuticals Inc.

The Procter & Gamble Co. (NYSE:PG)

5

Preclinical development of Axokine

The companies signed a broad-based discovery collaboration in 5/97, and expanded that agreement in 9/97 to include Regeneron s Axokine (2nd generation ciliary neurotrophic factor) for treating obesity associated with diabetes; Regeneron received a $5M milestone for progress in the preclinical development of Axokine (7/98)

Regeneron Pharmaceuticals Inc.

Sumitomo Pharmaceuticals Co. Ltd. (Japan)

5

License agreement for BDNF in Japan

The companies signed an R&D agreement to develop Regeneron s brain-derived neurotrophic factor (BDNF) in Japan in 6/94; in 8/98, Sumitomo licensed the product for use in Japan, paying Regeneron $5M as the initial fee (8/98)

RiboGene Inc.

Abbott Laboratories (NYSE:ABT)

4

IPO

The companies entered a collaboration on antifungal drugs in 4/96; as part of that agreement, Abbott agreed to buy stock in RiboGene concurrently with its IPO at the same price/share in a private placement; although Abbott terminated the collaboration effective 4/8/98, it still bought $4M concurrent with RiboGene s IPO (0.57M shares at $7/each), giving it a 12.72% stake (5/98)

Ribozyme Pharmaceuticals Inc.

Schering AG (Germany)

2.5

Completion of 1st phase of collaboration

The companies entered a collaboration on use of ribozymes to validate a broad range of therapeutic targets in 4/97; Ribozyme has successfully completed the 1st phase of the collaboration, triggering a $2.5M equity investment from Schering Berlin Venture Corp. (an affiliate of Schering AG) (5/98)

Sugen Inc.

ASTA Medica AG (Germany)

0.5

Joint decision to proceed with clinical development of Pan-HER cancer program

The companies formed a strategic alliance in 12/95 to develop oncology products based on cell signal transduction targets HER-2 and Raf; the joint decision to proceed with clinical development triggered ASTA s purchase of $0.5M of Sugen s stock (at $26.75/share) (1/98)

Transkaryotic Therapies Inc.

Hoechst Marion Roussel Inc. (unit of Hoechst AG; Germany)

2.5

Hoechst Marion initiated Phase III trial of GA-EPO

The companies signed an agreement in 1994 to develop gene-activated drugs; Hoechst Marion initiated Phase III trials of GA-EPO (erythro-poietin), triggering the $2.5M milestone (9/98)

Trega Biosciences Inc.

Novartis Pharma AG (Switzerland)

7

Terms of alliance

The companies entered an agreement in 5/98 on orally active small molecules for treating diseases mediated by the melanocortin-4 receptor pathway; as part of that agreement, Trega had the option of getting an equity investment from Novartis; Novartis bought 1.9M shares of Trega at $3.75 each for $7M total (11/98)

Trega Biosciences Inc.

Parke-Davis (division of Warner-Lambert Co.; NYSE:WLA)

1.5

Identification of series of lead compounds

The companies entered a collaboration in 5/97 to use Trega s combinatorial chemistry libraries to identify compounds active against a Parke-Davis biological target; a series of lead compounds has been identified; Warner-Lambert will buy $1.5M in Trega common stock, the timing and pricing of which will be determined by Trega over the next 2 years (2/98)

Unigene Laboratories Inc.

Parke-Davis (division of Warner-Lambert Co.; NYSE:WLA)

2

Developmental benchmark

The companies signed a licensing agreement on Unigene s oral calcitonin for treating osteoporosis in 7/97; Unigene got a $2M milestone payment for achieving a developmental benchmark for this product (2/98)

Unigene Laboratories Inc.

Parke-Davis (division of Warner-Lambert Co.; NYSE:WLA)

3

Achievement of developmental benchmark on calcitonin

The companies signed a licensing agreement on Unigene s oral calcitonin for treating osteoporosis in 7/97; Unigene got a $3M milestone for achieving a developmental benchmark; it expects to initiate a pilot human study in the U.K. this year (9/98)

U.S. Bioscience Inc.

Alza Corp.

5

Clinical development milestone

The companies entered a U.S. marketing and distribution agreement for Ethyol in 12/95; U.S. Bioscience received $5M for achieving a clinical development milestone in connection with its Phase III trial of Ethyol in head and neck cancer (2/98)

Vertex Pharmaceuticals Inc.

Glaxo Wellcome plc (NYSE:GLX; U.K.)

3

Glaxo submitted NDA on Agenerase

The companies signed a collaboration to develop HIV protease inhibitors in 12/93; Glaxo submitted an NDA to FDA on Vertex s drug Agenerase (amprenavir), triggering a $3M milestone payment to Vertex (10/98)

Vertex Pharmaceuticals Inc.

Kissei Pharmaceutical Co. Ltd. (Japan)

2

Selection of lead drug development candidate

The companies signed an agreement in 9/97 to develop orally active inhibitors of Vertex s p58 mitogen-activated protein kinase for treating inflammatory and neurological disorders; the companies selected a lead drug development candidate (VX-745), triggering a $2M milestone payment (7/98)

Xenova Group plc

Parke-Davis (division of Warner-Lambert Co.; NYSE:WLA)

1.7

Achievement of pilot phase of R&D collaboration

The companies signed a drug discovery agreement in 10/96, which uses Xenova s natural product drug discovery technology, QTC; the 1st QTC compounds were delivered to Parke-Davis in late 1997 and a number of them tested positive against targets; Warner-Lambert paid US$1.66M for 0.46M new common shares of Xenova, raising its equity stake to 3% (prices converted at a rate of 0.6/US$1) (3/98)

Zonagen Inc.

Schering-Plough Corp. (NYSE:SGP)

5

Completion of clinical program on Vasomax

The companies signed a worldwide marketing agreement on Vasomax (immediate-release oral formulation of phentolamine mesylate) for treating male erectile dysfunction in 11/97; Zonagen received an accelerated milestone payment of $5M, marking the completion of the clinical program in support of an NDA submission (6/98)

Zonagen Inc.

Schering-Plough Corp. (NYSE:SGP)

5

FDA accepted Vasomax NDA for filing

The companies signed a worldwide marketing agreement on Vasomax (immediate-release oral formulation of phentolamine mesylate) for treating male erectile dysfunction in 11/97; the FDA accepted for filing the NDA on Vasomax, triggering the milestone (9/98)