Partnerships fill up the coffers

The contribution good corporate partnerships make to the coffers of biotech companies can't be under-estimated in sluggish financing markets, a point that is illustrated by ViageneInc.'s collaboration with Green Cross Corp.

That deal, which last week was renewed for two more years, already has provided money equivalent to one good-sized public offering. The ultimate contribution from the deal, including milestones, will be $50-60 million...