Immtech International Inc. deal

Immtech, which develops drugs to treat diseases affecting immune-suppressed patients, acquired rights to technologies of a research consortium led by the University of North Carolina (Chapel Hill, N.C.) and including Auburn University (Auburn, Ala.), Duke University (Durham, N.C.) and Georgia State Universities (Atlanta, Ga.). Immtech will acquire exclusive rights to technologies for analogs of pentamidine dication, a new class of compounds to treat fungal, parasitic and bacterial diseases.

The consortium will own equity in stocks and warrants based on lead compounds in the company, and receive royalties based on sales and a percentage of milestones that Immtech earns from future licensing. The consortium will develop the compounds to the preclinical stage, at which point Immtech will do preclinical GLP toxicology work and all clinical work. ...