Biotech - Big Pharma Collaborations: Modified And Terminated Agreements, Dec. 16, 2004-Feb. 23, 2005#
I. MODIFIED AGREEMENTS | |||
Biotech Co.* | Pharma Co. (Country) | Change from original agreement | Terms/Details (Date) |
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Atugen AG* | Altana Pharma AG (Germany) | They renewed nonexclusive target validation and license agreement for another year | Atugen validates molecular targets, and Altana gets a license to use Atugen's gene silencing and oligonucleotide delivery technologies (2/16) |
Cambridge | Abbott Laboratories | The High Court in London ruled in CAT's favor in a dispute over Humira royalties | The ruling increases the amount of royalties due CAT from sales of the rheumatoid arthritis drug; Abbott said it would appeal (12/20) |
Exelixis Inc. | GlaxoSmithKline plc (UK) | They modified October 2002 deal covering development of drugs in vascular biology, inflammatory disease and oncology | The amendment provides accelerated milestone payments to Exelixis and allows third-party development and funding of certain programs; GSK retains exclusivity rights to 32 specified targets (1/10) |
Immunicon | Veridex LLC (unit of Johnson & Johnson) | Amended 2000 deal changes the triggering events for milestone payments to Immunicon | They are working on two cancer programs; the milestone totals remained the same (2/3) |
Lexicon | Roche Palo Alto LLC | Roche renewed its license to gene- targeting technologies for generating knockout mice | Roche maintains nonexclusive rights to use the "isogenic DNA" and "positive-negative selection" technologies; terms were not disclosed (12/21) |
Ligand | Eli Lilly and Co. | Ligand exercised its first option to buy down a portion of royalties payable to Lilly on U.S. sales of Ontak | Ligand paid $20M in exchange for elimination of royalties due on sales in 2005, and a reduced reverse-tiered royalty scale on later sales above a certain threshold (1/7) |
Ligand | TAP Pharmaceuticals Products Inc. | They extended their 2001 collaboration on selective androgen receptor modulators through 2006 | Ligand is entitled to research, milestone and royalty payments in the deal, and retains certain rights in the androgen receptor field (12/28) |
MedImmune | GlaxoSmithKline plc (UK) | MedImmune may receive milestone and royalty payments under revised terms on a deal related to a human papilloma-virus vaccine that Merck & Co. Inc. has in Phase III development | MedImmune also may get milestones and royalties from an HPV vaccine it co-developed with GSK; GSK had granted Merck certain HPV rights under a 1997 deal with MedImmune (2/2) |
Metabasis | Merck & Co. Inc. | They extended and expanded a December 2003 collaboration in hepatitis C | Merck will continue to fund through December 2005 Metabasis' efforts to apply its technologies to Pfizer preclinical candidates (1/25) |
MorphoSys | Bristol-Myers Squibb Co. | BMS gained further access to MorphoSys' HuCAL GOLD library for use in discovery programs | BMS previously had a nonexclusive license to prior versions of the HuCAL library and the AutoCAL system; terms were not disclosed (1/26) |
Sunesis | Johnson & Johnson Pharmaceutical Research & Development LLC | They extended through 2005 their collaboration on small-molecule enzyme inhibitors targeting Cathepsin S | Sunesis gets research funding and potential milestone and royalty payments under the deal, originally signed in May 2002 (1/10) |
Regeneron | Sanofi-Aventis Group (France) | The rights to develop VEGF Trap for eye diseases reverted to Regeneron | Sanofi, which is continuing development in oncology, made a final $25M payment related to the program in eye diseases, half of which would be repayable upon commercialization (1/10) |
SkyePharma | First Horizon Pharmaceutical Corp. | They extended May 2004 deal on Skye's formulation of fenofibrate | The amendment would allow First Horizon to launch the product in the first half of 2005, pending FDA approval; details were not disclosed (2/1) |
II. TERMINATED AGREEMENTS | |||
AEterna | Medac GmbH (Germany) | The ended a distribution agreement covering the anti-angiogenic product Neovastat | Some rights were transferred to AEterna subsidiary Atrium Biotechnologies Inc.; deals on the cancer drug remain with Grupo Ferrer, LG Life Sciences and Mayne Pharma (12/22) |
Biopure Inc. | Tshepo Pharmaceuticals Ltd. | They formally terminated deal under which Tshepo held South African rights for the oxygen therapeutic Hemopure | Biopure appointed an interim registration holder and a marketing agent, and seeks to register itself as a pharmaceutical marketing company in South Africa so it can hold the product registration (2/1) |
Flamel | Bristol-Myers Squibb Co. | They resolved all matters related to termination of an August 2003 license agreement covering Flamel's Basulin | Flamel will get a cash payment and a clear title to certain data from the relationship on the insulin formulation; the deal was ended in September 2004 (1/31) |
Generex | Elan Corp. plc (Ireland) | The ended dormant joint venture formed in 2001 to develop buccal morphine technology | Elan agreed to sell $14.3M in preferred stock to a third party, which will convert it into Generex common stock at $25.277 per share, helping Generex's equity position (12/21) |
Medivir AB | GlaxoSmithKline plc (UK) | GSK ended an agreement for the development of the HIV compound MIV-210 | Medivir plans to focus development on drug-experienced patients, and intends to move into Phase IIa trials (12/27) |
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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. | |||
FSE = Frankfurt Stock Exchange; SSE = Stockholm Stock Exchange. | |||