RiboGene, Abbott deal

The companies agreed to develop antifungal compounds using RiboGene's translation-targeted therapeutics technology. Abbott purchased 10 percent of RiboGene for an undisclosed amount, and can make a second equity purchase at a later date.The two equity purchases will total $6-$10 million.

RiboGene will receive undisclosed milestones for each compound developed, as well as royalties. Abbott has exclusive worldwide rights. ...