Magainin, Fisons plc deal

MAGN and Fisons signed an agreement in principle to develop and commercialize MAGN's MSI-843, a 10 amino acid magainin compound, as an inhalation product to treat infection in patients with cystic fibrosis, with a focus on drug-resistant pseudomonas strains. The parties expect to sign a definitive agreement by Nov. 15.

Fisons would make a $2 million upfront payment, part of which already has been paid. MAGN (Plymouth Meeting, Penn.) and Fisons (Suffolk, U.K.) will share equally in profits from U.S. sales of MSI-843. ...