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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM)
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To: tuck who wrote (2818)3/6/2007 7:17:17 PM
From: keokalani'nui   of 3044
 
Your post made me wonder whatever happened to chemocentryx, the chemokine-focused subsidiary of techne whose IPO I'd been patiently waiting for about 6 years. Still private. Still has hot programs and big shot investors. And now GSK's teethmarks are all over it (deal 8/06):

ChemoCentryx will receive an upfront payment of $63.5 million comprised of cash and an equity investment in the form of a Series D financing. In addition, ChemoCentryx will receive research funding and will be eligible to earn milestone payments up to, potentially, $1.5 billion, across six product options on the four targets, assuming successful development and commercialization. ChemoCentryx will also receive double-digit royalties on all collaboration product sales and will be able to increase royalties in certain instances by co-funding development through Phase III clinical trials. Furthermore, under certain circumstances, upon an initial public offering by ChemoCentryx, GSK will invest in ChemoCentryx's common stock.

Under the terms of the agreement, ChemoCentryx will be responsible for the discovery and development of small molecule drug candidates targeting four specific chemokine and chemoattractant receptor targets through clinical proof of concept, at which point GSK will have exclusive options to license each product for further development and commercialization on a worldwide basis. The agreement encompasses Traficet-EN, a specific CCR9 antagonist currently in a multinational clinical trial (PROTECT-1) of greater than 400 patients with IBD, as well as three ongoing pre-agreed preclinical research programs involving named but undisclosed chemokine and chemoattractant receptor targets. ChemoCentryx will retain the option to co-develop and to co-promote Traficet-EN in IBD to certain physician specialists in the U.S.
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