Antisense Therapeutics Ltd. (ASX: ANP) announced on February 11,...

Antisense Therapeutics Ltd. (ASX: ANP) announced on February 11, 2008 that the Company had entered into an exclusive, world-wide license agreement with Teva Pharmaceutical Industries Ltd. (Teva), a top 20 global pharmaceutical company, to develop and commercialize ATL-1102, a drug discovered by Isis Pharmaceuticals Inc. (NASDAQ: ISIS) and licensed to ANP.

Under the terms of the agreement, ANP will receive an initial US$2 million up-front payment. ANP also has the potential to receive payments related to the continued clinical development of ATL-1102 for MS upon certain future development milestones, with more significant milestone payments for entry into the market, and sales targets in particular territories. The License includes potential milestone payments of up to US$100 million for the MS indication which is contingent upon completion of R and D, successful commercialization and meeting certain sales milestones, and bears inherent risks as does all pharmaceutical R and D. Teva would fund and perform all future development of ATL-1102 beyond the current trial, should they decide to continue beyond that point.


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