BioXell SpA could earn up to $150 million in milestone payments from Merck & Co. Inc., which has gained exclusive commercialization rights to BioXell's preclinical TREM (Triggering Receptors Expressed on Myeloid Cells) programs. (BioWorld International)

In a financing environment that's less than ideal for biotechnology firms, Reliant Pharmaceuticals Inc. is shooting to raise $300 million with its initial public offering, though the company did not specify the number of shares or the price per share. (BioWorld Today)