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Companies
Pfizer and Medivation Enter into Global Agreement for Dimebon PDF Print E-mail
Pharmaceuticals
Written by Medivation   

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Thursday, 04 September 2008 05:30

New York and San Francisco, September 3, 2008: Pfizer Inc [NYSE:PFE] and Medivation, Inc. [NASDAQ:MDVN] announced today that they have entered into an agreement to develop and commercialize Dimebon, Medivation's investigational drug for treatment of Alzheimer's disease and Huntington's disease. Dimebon currently is being evaluated in an international, confirmatory Phase III trial in patients with mild-to-moderate Alzheimer's disease (www.connectionstudy.com).

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QLT Inc. Completes $65.5 Million Real Estate Transaction PDF Print E-mail
Biotechnology Companies
Written by QLT Inc.   

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Tuesday, 02 September 2008 22:30

Vancouver, BC, September 2, 2008: QLT Inc. [NASDAQ:QLTI ]announced today the closing of its previously disclosed agreement to sell the land and building comprising its corporate headquarters and the adjacent undeveloped parcel of land in Vancouver, British Columbia to Discovery Parks Holdings Ltd., in its capacity as trustee of Discovery Parks Trust and Discovery Parks Trust 2 ("Discovery Parks"), for Cdn$65.5 million. In conjunction with the sale, QLT has entered into a five-year lease with Discovery Parks for approximately thirty percent of the facility and will provide two-year 6.5% interest-only second mortgage vendor financing in the amount of Cdn$12 million.

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Burnham Institute for Medical Research Awarded $97.9 Million National Institutes of Health Grant PDF Print E-mail
Biotechnology Companies
Written by Burnham Institute   

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Tuesday, 02 September 2008 22:00

La Jolla, California, September 2, 2008: Burnham Institute for Medical Research (Burnham) announced today that it has been awarded a prestigious six-year, $97.9 million Molecular Libraries Probe Production Centers Network (MLPCN) grant from the National Institutes of Health (NIH). Burnham will equip and manage one of four comprehensive small-molecule screening and discovery centers in the nation. Burnham was selected from among some of the nation’s largest and most prestigious universities and medical research institutions.

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Pain Therapeutics Receives $20 million from King Pharmaceuticals, Inc. PDF Print E-mail
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Biotechnology Companies
Written by Pain Therapeutics   

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Tuesday, 02 September 2008 22:00

San Mateo, California, September 2, 2008: Pain Therapeutics, Inc. [NASDAQ:PTIE] today announced it has received $20,000,000 in milestone payments from King Pharmaceuticals, Inc. [NYSE:KG], its exclusive commercial partner for REMOXY and other abuse-resistant prescription pain medications.

Receipt of $15,000,000 was triggered by acceptance of the REMOXY New Drug Application (NDA) by the U.S. Food and Drug Administration (FDA). Receipt of an additional $5,000,000 was triggered by FDA's acceptance of an Investigational New Drug application for PTI-721.

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InterMune, Inc. Earns Development Milestone in HCV Protease Inhibitor Collaboration With Roche PDF Print E-mail
Biotechnology Companies
Written by InterMune   

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Tuesday, 02 September 2008 21:45

Brisbane, California, September 2, 2008: InterMune, Inc. [NASDAQ:INTM] today announced that InterMune has earned a $15 million development milestone under its development collaboration with Roche for the hepatitis C virus (HCV) NS3 protease inhibitor compound ITMN-191 (referred to as R7227 at Roche), currently in a Phase 1b clinical trial in combination with Pegasys(R) (peginterferon alfa-2a) and Copegus(R) (ribavirin).

Under the terms of their 2006 collaboration agreement, the clinical program for ITMN-191 is now being transitioned to Roche which, starting in Phase 2, will have primary responsibility for completing the global development and registration program.

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