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Biotech / Medical : Abgenix, Inc. (ABGX)

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To: nigel bates who wrote (277)	10/17/2003 9:13:08 AM
From: Icebrg	Read Replies (1) of 590

>>Not exactly. They get milestone & royalties>> But almost. I cannot see the royalty being higher than what they would have got with a straight licensing deal. And that is not supposed to be very much. As for the milestones - I don't believe they will be substantial. After all they are already paid for their services. >>And don't forget this is just oncology - leaves quite a few other indications...>> Yes, it will be interesting to see what their next move will be. A similar package deal for another therapeutic area or something closer to a standard 50/50 arrangement. >> It's also sensible (necessary ?) insurance against failure of ABX-EGF.>> There is no doubt that they have taken away a lot of the risk. Having to go back to the capital market after an ABX-EGF failure would not have been very nice. Now they should at least be able to muddle through. I wonder if the 60 mUSD they will get from Amgen will completely insulate them from further exposure to the risks from that project (after having spent another 20 mUSD). >>To me, this is a good deal >> It depends on what the ulterior objectives are. To secure a financial platform for future drug development or to secure a platform for the further enrichment of the management group. (Looking at the compensation packages in the industry with Swedish eyes makes almost everything look excessive). Erik

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