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12:00 AM
 | 
Apr 23, 2007
 |  BioCentury  |  Strategy

Basel ping-pong

Antisoma plc has found a new home for cancer compound AS1404, which Roche passed on last year, as Novartis AG picked up a license in exchange for a hefty upfront fee. Antisoma said the main change since it reacquired the compound is that the data package has significantly evolved.

Antisoma (LSE:ASM, London, U.K.) will get $75 million up front and is eligible for $815 million in milestones, including $380 million related to development, $325 million related to sales and $110 million related to development and sales of an undisclosed backup vascular-targeting agent that is in early development. The partners will develop AS1404 in lung, prostate and ovarian cancer, plus an undisclosed cancer indication and an undisclosed non-oncology indication.

Novartis (NVS; SWX:NOVN, Basel, Switzerland) also will fund all future development of AS1404. And ASM has an option to co-market AS1404 in the U.S.

Last year, Roche (SWX:ROG, Basel,...

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