Microcide, J&J deal

Microcide signed a three-year research and licensing deal with J&J affiliates Ortho-McNeil Pharmaceuticals and the R.W. Johnson Pharmaceutical Research Institute to develop new antibiotics for resistant strains of Gram-positive bacteria.

Microcide will receive a $3 million up front license fee and J&J Development Corp. will make a $5 million equity investment. The research institute will contribute funding for certain Microcide R&D, and will have an option to extend the deal for one year. ...