BRISBANE, Calif., Nov. 2-- InterMune, Inc. (Nasdaq: ITMN - News) announced today that on October 30, 2006, it successfully closed its Exclusive License and Collaboration Agreement with Roche for the exclusive worldwide development and commercialization of InterMune's hepatitis C virus (HCV) protease inhibitor program. The parties received notice of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, on October 30, 2006.
Having closed the transaction, InterMune will receive an upfront payment of $60 million. Roche is now funding 67% of the global development costs associated with ITMN-191, InterMune's lead HCV protease inhibitor drug candidate. Assuming the successful development and commercialization of ITMN-191 in the U.S. and other countries, InterMune could receive up to $470 million in milestones, including a potential $35 million within the next 12 months.
The NASDAQ traded company closed at $21.72, down 37 cents.
InterMune, Inc., a biotechnology company, engages in the research, development, and commercialization of therapies in pulmonology [Lung] and hepatology [liver]. The company has a product portfolio addressing idiopathic pulmonary fibrosis (IPF) [scarring of the lung] and Hepatitis C Virus (HCV) infections. Its pulmonology portfolio includes two compounds in phase III development for IPF, a disease characterized by progressive scarring of the lungs for which there are no FDA-approved treatment options.
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