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Biotech / Medical : SIBIA Neurosciences (SIBI) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (428)	6/26/1999 1:12:00 AM
From: margie	Read Replies (2) \| Respond to of 579

[ parking, ignore ] That means don't ignore, to me :- ) Thanks for all the posts. I get the point. I didn't realize that it is standard practice for licensees to pay royalties if a drug is developed using a licensed technology, until the patent expires. <The Company (Sibi) has granted Pfizer an exclusive, worldwide license to make, use, and sell the therapeutic products resulting from this collaboration in exchange for royalty payments. This license terminates on the date of the last to expire of the Company's relevant patent rights. > <Aurora could also receive milestone or profit-share payments related to development or commercialization of compounds identified through use of assays developed in the collaborative research program.> The biotech companies with these patents do all the leg work; provide the technology and the first steps towards drug discovery, and are being rewarded, albeit on a small scale. That is what keeps these biotechs going. < ''Our goal is to provide the next generation of discovery services and technologies throughout the pharmaceutical and biotechnology industries. We are delighted that Pfizer, one of the world's leading research based companies, has chosen to acquire Aurora's pharmaceutical discovery technology for use on a world-wide basis across therapeutic areas,'' said Timothy J.Rink, M.D., Sc.D., Aurora's chairman and chief executive officer> So why is Pfizer picking on SIBI? Pfizer has existing collaborations with SIBI, Aurora, Osi, and others. And why are they asking for a declaratory judgment. By filing first, Pfizer gets to chose the forum for the legal proceedings. They think a jury will be sympathetic ..... If I understand Luke's post, to be awarded a declaratory judgment and to invalidate SIBI's patents invalid, Pfe has to prove that SIBI's conduct made them fearful that SIBI would sue them, if they kept ignoring SIBI's patent. Duh. <that Siibi's conduct created "an objectively reasonable apprehension on the part of (Pfizer) that (Sibi) will initiate suit if the activity continues....i.e. if Pfizer continues to use the patent without paying. What a joke. Poor Pfizer is scared of SIBI. Maybe Pfizer will hire Barry Sheck, the defense attorney for OJ and Louise Woodward. <It seems, to me, that 0.5% allows for a Board Room discussion about the merits of "expedience accorded a license, versus wisdom of trying to circumvent"> 0.5% is peanuts to these big pharma and does seem to be an abuse of their gorilla powers. Message 10280756 Effective April 1, 1996, the Company (SIBI) and Pfizer renewed their collaboration for a new five-year term by entering into new collaborative research and license agreements. ...The Company's screening program has resulted in the identification of a proprietary lead compound, CP-358,774, that inhibits the activity of the Epidermal Growth Factor Receptor, a protein associated with a number of major cancers. Pfizer is conducting Phase I safety and toxicity studies in the United States on this compound. The continued development of this compound depends on several factors outside the control of the Company, including the amount and timing of resources devoted by Pfizer, successful completion of safety and toxicity studies and successful optimization of the compound. There can be no assurance that a drug will result from this program. <The Company (Sibi) has granted Pfizer an exclusive, worldwide license to make, use, and sell the therapeutic products resulting from this collaboration in exchange for royalty payments. This license terminates on the date of the last to expire of the Company's relevant patent rights. > biotechsummit.com That does sound like a very interesting and timely meeting. Are you going? Kurt Von Dumpster will be there.