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Biotech / Medical : Alliance Pharmaceutical

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To: Champolion who wrote (474)	5/12/2000 10:06:00 AM
From: aknahow	Read Replies (1) of 548

Details not that clear. Baxter is not giving Alliance $50 million but rather will invest a total of $50 million in convertible pfd. stock. Looked at another way this has facilitated the sale of a potential total of stock by Alliance on favorable terms but it is not the same as milestone payments of $50 million, without the issuance of stock. Apparently Alliance gets both royalties plus a share of gross profits.

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