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Article: Biogen Idec Forms Parkinson's Deal With Vernalis For $100M.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
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BioWorld International Correspondent
LONDON - Vernalis plc landed a deal potentially worth $100 million with Biogen Idec Inc. for Vernalis' Parkinson's disease program that is in Phase I work. Biogen is paying an initial license fee of $10 million and investing $6 million in Vernalis, with a promise to invest a further $4 million in any future Vernalis fund raising.
It is Vernalis' first big-money deal since it was formed last July by the merger of Vernalis and British Biotech plc. The program includes V2006, a selective adenosine A.sub.2A receptor antagonist that originates from Cerebrus plc, a central nervous system specialist acquired by Vernalis in ...