CRIS, Curis (formerly CBMI) Message Board

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Biotech / Medical : CRIS, Curis (formerly CBMI)

CRIS 1.280

+11.3%

Nov 26 3:59 PM EST

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To: Norton who wrote ()	12/13/1996 3:43:00 PM
From: Harold Engstrom	of 668

From Biogen thread on SI: "Here are the terms of the CBMI deal that have been disclosed: - $10m upfront 'technology licensing fee' - $18m equity purchase for about 5% of CBMI - $10.5m research funding to CBMI over three years for renal/OP-1 program - up to $69m in total milestone payments if OP-1 is sucessfully commercialized in US, Europe, and Japan - $15m line of credit (ie. repayable) that CBMI can use to fund a small molecule OP-1 program; Biogen has the option to license anything that comes out of this research Biogen has exclusive worldwide rights to OP-1 and OP-1 related products in renal indications. There will be a one-time increase in R&D of around $15m in Q4 due to the deal. I'm very excited about this product! The market is very large and underserved. It will take us a year plus to get to the clinic, so this is a product for post-'00, but revenues could be very substantial. Rick Lundberg Biogen Investor Relations"

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