|
|
Article: Rhone-Poulenc Rorer and IRORI Sign $10.5 Million Strategic Alliance Agreement; Rhone-Poulenc Rorer Makes $4.5 Million Equity Investment in IRORI.
- Article from:
- Business Wire
- Article date:
- June 17, 1998
CopyrightCOPYRIGHT 1998 Business Wire. 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)
|
COLLEGEVILLE, Pa., and LA JOLLA, Calif.--(BW HealthWire)--June 17, 1998--Rhone-Poulenc Rorer (RPR), a global pharmaceutical subsidiary of Rhone-Poulenc S.A. (NYSE:RP), and IRORI(R) today announced that they have signed a $10.5 million two-year strategic alliance agreement for IRORI to develop an advanced, ultra-high-throughput combinatorial chemistry system using IRORI's proprietary NanoReactor(TM) technology.
The system will be used by Rhone-Poulenc Rorer in drug discovery. The agreement includes a $4.5 million equity investment by Rhone-Poulenc Rorer in IRORI, together with milestone payments and licensing fees. IRORI received an $800,000 milestone payment upon ...