Shaman deal

"With Shaman there were some promising compounds," Lilly spokesperson Jim Kappel said, "but we continually evaluate our partners and as time goes on our priorities shift."

SHMN (South San Francisco) retains worldwide rights to the drugs that were under development. SHMN CFO Kurt Amundson said the company will take 30 to 60 days to determine whether it will continue development of the compounds. Under the original agreement, SHMN collected plant specimens, provided initial screening of plant extracts exhibiting antifungal activity and provided isolation and compound identification efforts in exchange for quarterly payments. Amundson said SHMN had received about $8 million from the pharma company; $4 million in equity at the time of signing and $4 million in quarterly payments. The deal was up for a two-year renewal. ...