Healthcare shares are mixed in pre-market trade. Immunogen (
) is up 6% after it said it has licensed its antibody-drug
conjugate technology to Novartis (
) to develop anticancer therapeutics to an undisclosed target. NVS
is flat at $73.96.
It is the second license to be taken by Novartis under a 2010
agreement between the companies. For each license, Immunogen
receives an upfront payment and is entitled to receive milestone
payments potentially totaling approximately $200 million plus
royalties on sales of any resulting products.
And, Vivus Inc. (
) is up 8% after it said it will receive an initial fee of $30
million and potential milestone payments of up to $300 million from
granting the U.S. and Canada licensing rights to its STENDRA drug
to treat erectile dysfunction to Auxilium Pharmaceuticals. Included
in the $300 million is the upfront licensing fee of $30 mln and a
$15 mln payment contingent upon a potential label amendment
regarding onset-of-action, in addition to royalties on product
Finally, Aastrom Biosciences, Inc. (
), a developer of patient-specific expanded multicellular therapies
for the treatment of severe chronic cardiovascular diseases,
approved a one-for-20 reverse stock split of the company's common
stock effective on October 16, 2013. ASTM is down 17% at
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