CuraGen, Topotarget deal

TopoTarget reacquired ex-European rights from CuraGen to belinostat for about $37.8 million in cash and stock, plus up to $6 million in commercial milestones. CuraGen will receive $26 million in cash and 5 million shares of TopoTarget, valued at DKK55.5 million ($11.8 million) based on TopoTarget's close of DKK11.10 on April 21, the day before the deal was announced. TopoTarget now has worldwide rights to the HDAC inhibitor, which is expected to start Phase III testing next half to treat peripheral T cell lymphoma (PTCL). CuraGen received ex-European rights to belinostat under a 2004 deal (see BioCentury, June 7, 2004). ...