Biogen returns LFA-1 to Icos

ICOS will reacquire the sole rights to the LFA-1 program it had partnered with BGEN in 2001. The most advanced compound in the partnership was IC747, an oral LFA-1 antagonist that recently completed a Phase IIa trial to treat psoriasis. However, ICOS said that efficacy data from that trial do not warrant further development, and the company will begin preclinical development of more potent LFA-1 antagonists. As a result of the termination, in the second quarter of 2003, ICOS will book as revenue $21 million of upfront fees and forgiven loans that have previously been recorded as deferred revenue. Under the original deal, the companies agreed to jointly develop and market orally active LFA-1 antagonists and to share the cost of the deal. ...