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Article: Coley Acquires TLR7 And TLR8 Programs From 3M For $20M.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
Coley Pharmaceutical Group Inc. expanded its pipeline beyond Toll-like receptor (TLR) 9 with the acquisition of TLR7 and TLR8 programs from technology behemoth 3M.
During an investor conference call Tuesday morning, Coley President and CEO Robert Bratzler called the deal a "natural strategic fit." In addition to giving Coley access to new TLR targets, 3M's portfolio offers clinical and preclinical small molecules that complement Coley's oligonucleotide approach.
The deal calls for Coley to make four guaranteed cash payments to 3M of $5 million each over the next three years, with the first payment due immediately. Additionally, 3M ...