The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Monday Deal Review: March 9, 2009

A big dose of Canadian deals and company info from this week

M&A/Licensing:

  • Æterna Zentaris Inc. (TSX: AEZ, NASDAQ: AEZS), based in Québec, signed a development, commercialization and licensing agreement with sanofi-aventis (EURONEXT: SAN; NYSE: SNY) for the development, registration and marketing of cetrorelix in benign prostatic hyperplasia (BPH) for the U.S. market. Cetrorelix, a luteinizing hormone-releasing hormone (LHRH) antagonist, is currently in Phase 3.  Terms:
    • $30 million upfront payment and $135 million in additional milestone payments;
    • escalating double-digit royalties on future net sales of cetrorelix for BPH in the United States;
    • sanofi-aventis will be responsible for the commercialization and booking of sales in the U.S.; however, AEterna Zentaris has retained certain U.S. co-promotion rights;
    • sanofi-aventis may perform future Phase 3b and Phase 4 clinical trials, while AEterna Zentaris will have free access to all data for other territories.
  • Oncolytics Biotech Inc. (TSX: ONC, NASDAQ: ONCY) is acquiring an inactive private company that has accumulated tax losses from its previous development business, and is expected to have approximately $2.3 million in net cash available at the closing of the transaction.

Securities:

Credit/Lending:

 The Case of the Caisse:

 Milestones:

Trouble:

 

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3 responses to “Monday Deal Review: March 9, 2009

  1. Pingback: Monday Deal Review: March 16, 2009 « The Cross-Border Biotech Blog

  2. Pingback: Monday Deal Review: April 13, 2009 « The Cross-Border Biotech Blog

  3. Pingback: Monday Deal Review: May 11, 2009 « The Cross-Border Biotech Blog

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