There have been several product licensing deals and a few acquisitions announced this week. Here are a few deals that I'd like to call to your attention.
Novartis paid Quark $10 M for an option on its Phase II candidate, QPI-1002, an siRNA therapy targeting the p53 gene in kidney disease as reported in Fierce Biotech. Based on achievement of milestones, Quark could realize as much as $670 M more in future payments.
Biogen Idec paid $80 M in cash to Knopp Neurosciences to gain rights to its late-stage ALS drug. Knopp can earn up to another $245 M in future milestone payments should things go well. The drug, KNS-760704 (catchy name), hits it primary endpoint in recent Phase II trials with Lou Gehrig disease patients. A Phase III trial is slated for 2011. See Fierce Biotech and Xconomy for more.
Finally, BioMarin announced its purchase of ZyStor Therapeutics for up to $115 M to acquire the latter's preclinical Pompe disease candidate, ZC-701. The deal includes $22 M upfront. ZyStor also has other core technology that is applicable to other enzyme replacment therapies. Plus the ZyStor candidate for Pompe is ahead of BioMarin's own internal candidate and should reach the clinic faster and at a lower cost. See Fierce Biotech and Xconomy.
Posted by Bruce Lehr August 20th 2010.