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Biotech / Medical : Biotech Valuation

CRSP 56.87

-2.3%

Dec 5 9:30 AM EST

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To: ghmm who wrote (22235)	12/14/2006 10:12:05 PM
From: DewDiligence_on_SI	of 52153

GPCB has always been careful in its wording to not characterize the payments it receives from PHRM as license fees or milestones. Here’s an excerpt from the 2005 PR announcing the deal consummation: investorshub.com >> Pharmion is to provide an upfront payment of $37.1 million to GPC Biotech, including an $18 million reimbursement for past satraplatin clinical development costs and $19.1 million for funding of ongoing and certain future clinical development to be conducted jointly by Pharmion and GPC Biotech. <<

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