The following are due - discovery on GSK legal action and the beginings of mediation. as well as the fish or cut bait with the collaberation on the Hep C Vaccine - refer :
9 July 2004
Biota Holdings Limited (ASX:BTA) announced that its US subsidiary Biota Inc was notified today by GlaxoSmithKline (GSK) that their two-year research collaboration on novel hepatitis C drugs would not be extended beyond its scheduled expiry date of 9 August 2004. GSK has provided more than US$3 million over the two years to fund the collaboration.
From Aug 2004 - 2005 "The collaboration agreement provides for a further 12-month evaluation period, at the end of which GSK will either return all rights to the compounds synthesised during the collaboration to Biota Inc, or decide to take one or more of the compounds into clinical development. If any of Biota Inc's compounds are taken forward into development, Biota Inc will be entitled to clinical milestone payments, in addition to royalties on sales."
will gsk procced - prob not with the leagl dramas - so BTA can use the $3 million from their good pals at GSK and shop it around with $3m already spent proving it to phase 1 trials - MERK and Phizer may come on board...
BTA - singas lock of the year.
BTA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
