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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Rocketman who wrote (5181)	6/21/1998 12:16:00 PM
From: squetch	Respond to of 9719

This shows the agreement ENMD and BMY had(filed 4/10/97). sec.gov >>The Company granted Bristol-Myers Squibb an exclusive worldwide royalty-bearing license to make, use and sell products that are based upon the Company's Angiostatin(TM) protein, thalidomide and thalidomide analog technologies. Bristol-Myers Squibb has a right to sublicense and has undertaken to secure a sublicense to develop thalidomide-related products for ophthamological indications. Bristol-Myers Squibb also received a five year right of first refusal with respect to the development of any technology licensed or to be licensed by the Company from Children's Hospital in the field of antiangiogenic therapeutics. Such right of first refusal applies to the Company's Endostatin(TM) protein technology and 2-Methoxyestradiol technologies, although neither the Company nor Bristol-Myers Squibb has taken any action with respect to any sublicense of such technologies.<< BMY relinquished its rights to thalidomide last year in a letter to ENMD dated Aug 5, 97 in the bowels of this report. sec.gov >>2.1 Extension. In partial consideration of BMS's relinquishment of its right with respect to Thalidomide Products, the period during which BMS may evaluate ENDOSTATIN(TM) and 2 MOE pursuant to Section 2.3 (a)(i) of the Agreement is hereby extended through and including November 30, 1997; provided, however, that if BMS wishes to pursue negotiations with respect to ENDOSTATIN(TM) and/or 2 MOE, it must present its Minimum Terms therefor to ENTREMED not later than November 1, 1997. Following ENTREMED's acceptance of any such Minimum Terms, BMS and ENTREMED shall negotiate in good faith a definitive agreement(s) incorporating such Minimum Terms by November 30, 1997.<< My non-lawyer read of that is a deal by Nov 30, 97 or else. Perhaps V1 can enlighten. Here is ENMD press release link to see if they announced a deal. entremed.com 8/18/97 >>Dr. Holaday also commented on the acquisition of thalidomide from BMS, stating,"...BMS has decided to focus on the development of thalidomide analogs and Angiostatin(tm) protein...<< No endo. 5/4/98 release after NYT. >>EntreMed scientists are working diligently to complete the preclinical studies needed to allow filing of an Investigational New Drug Application ("INDA") for EndostatinTM protein. Further, the Company is collaborating closely with its partner, Bristol-Myers Squibb Company (NYSE:BMY), regarding preclinical studies with AngiostatinTM protein.<< I suggest reading the 6/1 release which focuses on endo too. What does everybody think? squetch