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Biotech / Medical : Tularik Inc. (TLRK)
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To: scaram(o)uche who wrote (478)6/6/2003 12:17:12 PM
From: Czechsinthemail   of 598
 
On May 21, 2003, Amgen and the Issuer entered into a Collaboration Agreement. The Collaboration Agreement contemplates a transaction in which (i) Amgen and the Issuer will collaborate on discovery and development of anti-cancer agents that target oncogene encoded proteins, (ii) the Issuer granted Amgen worldwide commercialization rights for certain products resulting from the collaboration (the “Products”), (iii) Amgen granted limited co-promotion rights to the Issuer in the United States and (iv) Amgen agreed to fund research costs and make specified payments upon achievement of certain predetermined clinical milestones and to pay a royalty on net sales of Products. Amgen will acquire the Issuer Shares in connection with the collaboration. Amgen may enter into additional discussions with the Issuer regarding additional collaborations, joint ventures and licensing transactions.

So does this mean they have agreed not to follow up on possible future collaborations or that they will not fully implement the May 23 agreement? I assume that the previously announced agreement to collaborate on developing anti-cancer agents remains in place, but references to "possible business combination" seem vague, particularly since the early news announcement said "the two companies agreed to consider collaborating on discovery and development of anti- cancer agents".
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