Aronex, Genzyme deal

ARNX received a $2 million advance on a $5 million equity milestone investment from GENZ to further development of TretinoinLF, which is in Phase II trials for Kaposi's sarcoma. GENZ will pay the additional $3 million if the companies proceed with a Phase III trial. If the milestone is not achieved within a year, ARNX will repay the advance less certain development expenses. ...