Vanguard Medica Ltd., 3M Pharmaceuticals Inc. deal

The companies will develop 3M’s R-848 immune response modifier as an oral compound to treat liver infection caused by hepatitis C virus (HCV). VGD will conduct preclinical studies of the compound, to be named VML 600. 3M will be formulate and manufacture the compound for the preclinical program.

3M retains rights to exclusively commercialize the compound following a review of Phase II results. If 3M decides to commercialize the product, Vanguard will receive a $5 million milestone, followed by four payments totaling up to $20 million prior to the submission of an NDA and an MAA. Vanguard also would receive royalties. ...