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Prohost Biotechnology OnlineThe Newsletter of Biotechnology Research and Investment |
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Navigating the DiscussionRe: Could use some advise on GNTA.From: Commentsyea Biomira.From: Backlash CommentsWell Biomira, thank you and, it's about time. Backlash.
TORONTO, May 3 (Reuters) - Canadian biotechnology firm Biomira Inc. (BRA) said on Thursday it has inked a deal with Germany's Merck KGaA to develop and eventually market its two key drugs, which have been shown to extend the lives of patients with breast cancer and smoking-related lung cancer. The value of the 15-year deal to the Edmonton-based biotech firm could amount to about $150 million in license fees, milestone payments and equity investments, Biomira said. Neither company would reveal details of the payments, saying only they are hinged on regulatory and marketing successes. As part of the deal, Merck, which is best known for its Glucophage diabetes drug, will take an initial equity stake in Biomira of no more than 5 percent. But that could mushroom to about 19 percent over the life of the partnership. The partnership only covers Biomira's Theratope vaccine for the treatment of breast cancer, and BLP25, a vaccine that is hoped to increase the life expectancy of people with late-stage small-cell lung cancer beyond the current nine months. These vaccines are not being touted as cures but, when used in conjunction with chemotherapies or radiation, will extend survival and quality of life, said Merck and Biomira. "Vaccines may be misinterpreted. We are looking for an improvement in survival, and trying to get the tumor load down," said Matt Emmens, chief executive of EMD Pharmaceuticals, an affiliate of Merck KGaA and the company that will market the drugs in the U.S. on behalf of Biomira. Theratope has been given fast-track review status by the U.S. Food and Drug Administration, and has just completed a phase 3 study involving 1,030 patients in 11 countries. The preferential FDA status means that it can jump the line for a review, which could be completed in as little as six months, said Biomira's chief executive, Alex McPherson, in a conference call with investors. Shares of Biomira surged 15 percent, or C$1.85, to C$13.75 on the Toronto Stock Exchange on Thursday, and on Nasdaq the shares gained $1.18 to $8.93. In the past 52 weeks, the shares have had a rocky ride, but are now up 16.5 percent, outperforming the TSE biotech index, which is up only 4 percent in the same period. McPherson said Biomira evaluated a gamut of companies for a potential partnership, but chose Germany's Merck because it agreed to a more lucrative co-promotion arrangement for the North American market, rather than a royalty agreement. "We are small in marketing, sales and distribution, so we need to be working with somebody more experienced than us...and with a company that can help with the European regulatory arena," McPherson told Reuters in a telephone interview. Merck has agreed to market the vaccines in the United States through EMD Pharmaceuticals, and retains marketing rights in all parts of the world except Israel, the Palestinian Autonomy Area and in Canada. Development costs dating back to Jan. 1, 2001, will be shared equally between the two companies. Biomira is responsible for manufacturing the products for the world market. Product sales in North America will be split equally between the two parties, as will royalties on sales for all other territories. ($1=$1.53 Canadian) REUTERS From: George (webmaster ProhostOnline.com) CommentsThis is a "threaded" discussion with the most recent articles on top. That means: 1- The left-most titles are the begining of a discussion on a particular topic. These are in date and time order with the most recent posting on top. 2- INDENTED are the REPLIES to the original messages. These will be BELOW the topic header even though, since they are a reply to the original message, they are obviously more recently posted. Replies that are at the same level of "indentation," are again sorted with the most recent being on top. 3- If all else fails, check the date and time of the post. 4- If this is still confusing, please let me know (email: webmaster@prohostonline.com) so that I can try to make the site as pleasant as possible.
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