B-MS enters deal worth up to $1.12B to co-develop ZymoGenetics' PEG-INF lambda
US drug major Bristol-Myers Squibb has agreed to develop a Phase Ib-stage hepatitis C drug made by US firm ZymoGenetics in a deal worth up to $1.12 billion.
Under the terms of the accord, B-MS will make an upfront cash payment of $85.0 million for rights to the novel type 3 interferon, PEG-Interferon lambda, and pay an additional license fee of $20.0 million in 2009. ZymoGenetics' share price leapt 56% to $4.87 in pre-market trading.
ZymoGenetics could receive further payments of up to $430.0 million based on pre-defined milestones for PEG-Interferon lambda in hepatitis C, up to $287.0 million in development and regulatory achievements for other potential indications, and up to $285.0 million based on pre-defined sales-based milestones.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
| Headless Content Management with Blaze