Milestone Payments From Corporate Partners: July 2007
TOTAL: $182.65M | ||||
Year to Date: $649.70M | ||||
Company (Symbol)#* | Partner (Country) | Amt. (M) | Triggering Event | Details (Date) |
Acadia Pharmaceuticals Inc. (ACAD) | Allergan Inc. (NYSE:AGN) | ND | Milestone payment | Tied to the initiation of an exploratory glaucoma trial (7/16) |
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Amorfix Life Sciences Ltd. (Canada; CDNX:AMF) | Biogen Idec Inc. (BIIB) | $0.15 | Investment milestone | Biogen Idec will subscribe for 91,445 shares at C$1.76 ($1.69) per share for gross proceeds of $150,000; the investment allows Biogen Idec to retain its exclusive worldwide option to license Amorfix's drug candidates for amyotrophic lateral sclerosis (7/23) |
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Biota Holdings Ltd. (Australia; ASX:BTA) | MedImmune Inc. (unit of AstraZeneca plc; UK; LSE:MDI) | $3 | Milestone payment | For the start of a Phase Ia trial of BTA9881 for respiratory syncytial virus (7/17) |
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ChemoCentryx Inc.* | GlaxoSmithKline plc (UK) | $5 | Milestone payment | For progress in their small-molecule CCR1 discovery and development program; it was triggered by the acceptance of ChemoCentryx's orally bioavailable small molecule, CCX354, as a candidate for full development (7/24) |
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Durect Corp. (DRRX) | Nycomed A/S (Denmark) | $8 | Milestone payment | For Phase IIb data showing statistically significant reductions in pain with Posidur when treating patients undergoing inguinal hernia repair (7/17) |
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Galapagos NV (Belgium; LSE:GLPG) | Boehringer Ingelheim GmbH (Germany) | ND | Milestone payment | Galapagos said its BioFocus DPI service division received the payment in relation to its autoimmune discovery research collaboration with Boehringer Ingelheim (7/20) |
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ImmunoGen Inc. (IMGN) | Genentech Inc. (NYSE:DNA) | $5 | Milestone payment | For the initiation of a Phase II breast cancer trial with trastuzumab-DM1 (7/31) |
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InterMune Inc. (ITMN) | F. Hoffmann-La Roche Ltd. (Switzerland) | $10 | Milestone payment | InterMune earned the milestone when Roche submitted an amended clinical trial authorization in Europe for ITMN-191 in chronic hepatitis C patients (7/25) |
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Medarex Inc. (MEDX) | Novartis Pharma AG (Switzerland) | ND | Milestone payment | For advancing ACZ885 into a Phase III trial (7/18) |
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Neuroptix Corp.* | Merck & Co. Inc. | $1 | Milestone payment | Related to its Alzheimer's disease diagnostic collaboration (7/16) |
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NicOx SA (France; FSE:NXO) | Merck & Co. Inc. | $5 | Milestone payment | For the initiation of the first in a series of planned clinical trials for the lead candidate from an agreement to develop nitric oxide-donating antihypertensive agents using NicOx's technology (7/16) |
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Pharmacopeia Drug Discovery Inc. (PCOP) | GlaxoSmithKline plc (UK) | $0.5 | Milestone payment | For the identification of a lead compound for advancement six months ahead of the original schedule; the compound is being evaluated as a treatment for inflammatory pain, and will now enter lead optimization (7/17) |
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Santarus Inc. (SNTS) | Schering-Plough Healthcare Products Inc. (division of Schering-Plough Corp.) | $5 | Milestone payment | For clinical development progress on a license agreement for proton pump inhibitor products using Santarus' PPI technology (7/20) |
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Vivus Inc. (VVUS) | KV Pharmaceutical Co. | $140 | Milestone payment | Vivus won FDA approval of Evamist to treat severe vasomotor symptoms due to menopause, triggering the milestone payments (7/30) |
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. | ||||
ASX = Australia Stock Exchange; CDNX = Canadian Venture Exchange; FSE = Frankfurt Stock Exchange; LSE = London Stock Exchange; NYSE = New York Stock Exchange. | ||||