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Biotech / Medical : Neurocrine Biosciences (NBIX) -- Ignore unavailable to you. Want to Upgrade?

To: Torben Noerup Nielsen who wrote (415)	1/6/2000 8:16:00 AM
From: GeoDude	Read Replies (2) \| Respond to of 1834

Should not have sold. Those 100 shares will be worth lots today ..... $45M for 50% of a phase I drug and only Europe/Asia, not bad at all. LIA More good news: January 06, 2000 07:45 Neurocrine Biosciences, Inc. Signs Exclusive Agreement With Taisho Pharmaceuticals for European and Asian Rights to APL Diabetes SAN DIEGO, Jan. 6 /PRNewswire/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX) announced today that it has signed an exclusive agreement with Taisho Pharmaceutical Co. LTD providing Taisho an option to obtain European and Asian commercialization rights for Neurocrine's altered peptide ligand (APL) for diabetes (NBI-6024). Neurocrine will retain all rights in the rest of the world, including North America. Taisho and Neurocrine will form a steering committee to coordinate the worldwide development of NBI 6024. The approximate value of the collaboration will be $45 million, which includes licensing and option fees, payments for certain development and regulatory milestones, and reimbursement of 50% of the worldwide development expenses. In addition, Neurocrine will receive royalties on product sales in Europe and Japan. NBI-6024 is based on Neurocrine's proprietary APL technology which was discovered and developed by Neurocrine scientists and its co-founder, Dr. Larry Steinman, M.D., Professor, Department of Neurology and Neurological Sciences, Stanford University School of Medicine. NBI-6024 is currently in Phase I clinical trials in diabetic patients to evaluate the safety profile of this compound for the eventual treatment of insulin-dependent diabetes mellitus (IDDM). Phase I trials are expected to be completed in first half 2000. <more>