Houston Biotechnology, Santen Pharmaceutical Co. Ltd deal

The companies entered into a codevelopment agreement covering the marketing in Japan of HBI's 4197 X-RA Immunotoxin to prevent the formation of secondary cataract. Santen will provide $7.75 million over the next six years to support HBI's development of the immunotoxin and to maintain exclusive marketing rights, of which $1.75 million is scheduled for payment in 1996. ...