Article: Unigene, Glaxo Licensing Deal: Potential $150M For Bone Drug.

Article from:
BIOWORLD Today
Article date:
November 4, 2009
Copyright

West Coast Editor

Although still trading at under a dollar, Unigene Laboratories Inc. saw its stock jump 63 percent on news that GlaxoSmithKline plc signed a licensing deal worth up to $150 million for an oral parathyroid hormone (PTH) analogue still in preclinical studies for osteoporosis.

oThatEs unusual for them,o said Ronald Levy, executive vice president of Fairfield, N.J.-based Unigene. oThey wouldnEt come in this early unless they saw this as a sterling opportunity.o Glaxo, he added, owants to begin the tech transfer today, but we might have to wait a little bit longer.o

UnigeneEs stock (OTCBB:UGNE) closed Monday at 88 cents, up 34 ...

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