British Bio looks beyond MMPI deal

Now that British Biotech plc has partnered its entire matrix metalloproteinase inhibitor cancer program with Schering-Plough Corp., the company appears to have an empty docket. However, outside the cancer field, BBG has three major preclinical research programs, a product poised to enter Phase II, and a healthy wad of cash with which it intends to acquire products to buff up its pipeline.

British Biotech (LSE:BBG; BBIOY, Oxford, U.K.) last week partnered both its lead MMPI compounds, marimastat in Phase III and BB-3644 in Phase I to treat cancer, with Schering-Plough (Madison, N.J.) for upfront fees worth around $8 million and milestone payments that could bring the deal to $60 million (see B2). ...