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Biotech / Medical : GLGC Gene Logic
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To: Mike McFarland who wrote (336)8/27/2007 12:10:15 PM
From: Mike McFarland  Read Replies (1) of 360
 
Gene Logic and Solvay Pharmaceuticals Enter Agreement
to Discover New Development Paths for Multiple Clinical
Drug Candidates
phx.corporate-ir.net;
All of these drug candidates were discontinued or de-prioritized in clinical trials for reasons other than safety.
The agreement provides for milestones and royalties similar to those paid for development-stage in-licensing deals, discounted to account for Solvay's contribution as the originator of the compound. The agreement also provides Gene Logic the option to receive an exclusive license to any drug candidate for which Gene Logic identifies a potential new therapeutic use that Solvay chooses not to develop. If Gene Logic elects to obtain such a license, Solvay would be entitled to success-based milestone and royalty payments.
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