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5. Other investments
BioInvent NeoGenesis
International Pharmaceuticals
AB Inc Total
'000 pounds '000 pounds '000 pounds
Cost:
At 1 January 2002 -- 4,251 4,251
Additions 3,528 - 3,528
At 30 June 2002 3,528 4,251 7,779
Provisions:
At 1 January 2002 and 30 June 2002 -- -- --
Net book value:
At 30 June 2002 3,528 4,251 7,779
Net book value:
At 31 December 2001 -- 4,251 4,251
They announced the deal in June 2001 (& didn't give financial details at the time)
Message 15968582
I'll see if I can find the % stake, but presumably it's less than 10% ?
(edit)
Parking some other equity investments :
CAMBRIDGE, Mass., January 08, 2001 - NeoGenesis Inc., an applied genomics and drug discovery technology company based here, today announced that it has completed a $23 million Series D financing.
OrbiMed Advisors LLC of New York is the lead investor in a group, including Ft. Washington Private Equity Investors, Essex Street Associates and Valentine Partners. Michael B. Sheffery, Ph.D., a managing general partner at OrbiMed will join the NeoGenesis Board of Directors...
July 2001
Under the terms of the agreement, Celltech will provide disease targets against which NeoGenesis will apply its screening technology to identify new drug discovery leads. Celltech will provide research funding for NeoGenesis, in addition to payments upon achieving certain milestones. Celltech will be responsible for the commercialization of all products arising from the collaboration and will make royalty payments to NeoGenesis on sales of such products. Celltech will also make a $10 million equity investment in NeoGenesis as part of the agreement.
Aug 6 2001
Under terms of the agreement, Schering-Plough will make an equity investment in NeoGenesis and will provide research and development funding, which may extend over a period of up to five years. NeoGenesis expects to receive license fees as well as payments upon the achievement of certain defined clinical and regulatory milestones. In addition, NeoGenesis will receive royalties on any commercial sales of products resulting from the collaboration. |
