Icos Corp. has entered into a five-year joint researchagreement with Cold Spring Harbor Laboratory to initiatecollaborations related to cell activation and cell metabolism,the company said Friday.
The deal is "an umbrella agreement to cover project-relatedfinancing," said Janice LeCocq, executive vice president forfinance and administration at Icos.
The program will be funded by Icos and managed jointly withCSHL. Icos will have the option to license inventions arisingfrom the collaboration, and CSHL will receive royalties onsales of licensed products. Funding levels will depend on whatprojects Icos chooses to fund.
Icos will issue 125,000 shares of stock that previously hadbeen reserved for CSHL. The stock will vest over time, LeCocqsaid. In 1990, Icos exclusively licensed CSHL's technology tointroduce individual human genes into unique strains of yeastas a drug screening method.
Icos shares (NASDAQ:ICOS) closed up 25 cents on Friday at$18.50. -- KB
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