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12:00 AM
Mar 08, 2004
 |  BioCentury  |  Emerging Company Profile

Avera: Neuro NRDO

Although many compounds are shelved for good reasons, Avera Pharmaceuticals Inc. maintains that tapping the cupboard at pharma companies does not mean it will end up with second-rate opportunities. The company expects that the neurological compounds it has in-licensed will give it near-term milestones and visibility that it can leverage in future venture rounds.

"Pharmaceutical companies continue to have more candidates for development than they can pursue internally, and increasingly are seeking creative approaches to capturing asset value through partnering," said President and CEO Jeffrey McKelvy.

Indeed, many pharmaceutical companies - including GlaxoSmithKline plc (LSE:GSK; GSK, London, U.K.) and Eli Lilly and Co. (LLY, Indianapolis, Ind.) - now have divisions or business units dedicated to monetizing shelved assets or programs (see BioCentury, Aug. 11, 2003). And because every member of Avera's...

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