Praecis deal a lesson in matchmaking

Noteworthy

Praecis Pharmaceuticals Inc.'s $78 million deal with Synthelabo is a reminder that biotech companies still command leverage when they can bring a partner an advanced product that fits a particular need.

The agreement, announced last week, provides Praecis with a $10 million equity investment and up to $68 million in signing and milestone payments, and still leaves the biotech company with the rights to its PPI-149 compound in North America, the Asia-Pacific region and Japan.

PPI-149, which Praecis licensed

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