Bankrolling BetaKine

Celtrix Pharmaceuticals Inc. and Genzyme Corp. agreed to develop BetaKine transforming growth factor-beta-2 (TGF-beta-2) for tissue repair, treatment of multiple sclerosis and other systemic applications.

Not counting milestones, GENZ will invest $70-80 million in the project, of which $30-40 million will go to CTRX. Milestones could push GENZ's investment in BetaKine to $90 million.