CNSI Cambridge Neuroscience Message Board

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Biotech / Medical : CNSI Cambridge Neuroscience

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To: TheSlowLane who wrote (39)	12/3/1996 1:34:00 AM
From: James Silverman	of 675

Paul, I looked into the Allergan deal a little bit more. The development will be in compounds related to Cerestat, but different. Expect them to spend 1997 trying to uncover a lead compound then perhaps start initial preclinicals and perhaps file an IND (investigative new drug) in 1998. The whole process will take a number of years. The deal looks OK. Allergan invested in CNSI at quite a premium to market and foots the whole bill. The royalty rate has not been disclosed, but I would expect it to be fairly low, which is probably the one negative. I may be wrong on that, but I would venture 10% royalties tops, probably less, given Allergan is paying for everything. I guess its obvious to say that the results of the Cerestat trial and NDA will be the determining factor here.

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