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12:00 AM
Jan 26, 2004
 |  BioCentury  |  Tools & Techniques

Data mining not dead

Most enabling technology deals are worth six figures, or at most low seven figures, which is why many of the post-genomics toolkit companies are no longer with us. But Iconix Pharmaceuticals Inc. last week announced not one, but two significantly sized chemogenomics deals, with Bristol-Myers Squibb Co. and Abbott Laboratories.

Iconix (Mountain View, Calif.) valued the BMY deal at $24 million, excluding payments based on successful commercialization. While the value of the ABT deal was not disclosed, Iconix COO Leslie Browne described the two deals as "very similar in structure, very similar in the way they will be managed, and very similar in the size of the financial commitment."

Both pharma companies received access to Iconix's DrugMatrix chemogenomics reference database and its Drug Signature library of predictive biomarkers...

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