tment of rheumatoid arthritis. Bristol-Myers Squibb an option to co-develop and commercialize outside the United States. In return, Bristol-Myers Squibb will pay Alder an upfront cash payment of $85 million, potential development-based and regulatory-based milestone payments of up to $764 million across a range of indications, and potential sales-based milestones which, under certain circumstances, may exceed $200 million. Alder also has an option to require Bristol-Myers Squibb to make an equity investment of up to $20 million in Alder during an initial public offering.
"Our prediction that we are likely to see an increasing number of biotech companies add themselves to the IPO runway in the final quarter of the year continues to be reinforced with four more companies filing in November," added Burrill.
These companies are:
- Ironwood Pharmaceuticals: hoping to raise up to $173 million in an initial public offering. Linaclotide, the company's first in class compound, is being evaluated in a confirmatory Phase III program for the treatment of irritable bowel syndrome with constipation and chronic constipation. Ironwood has already raised $306 million in private equity financing and recently announced that it had partnered with Japanese pharmaceutical powerhouse Astellas granting them exclusive rights to develop and commercialize linaclotide in Japan, Indonesia, Korea, the Philippines, Taiwan, and Thailand.
- Trius Therapeutics, which focuses on the discovery, development and commercialization of antibiotics for serious infections, filed to raise up to $86 million. The San Diego, CA-based company, is planning two phase III trials of the second-generation oxazolidinone that inhibits bacterial protein biosynthesis to treat serious Gram-positive bacterial infections.
- Alimera Sciences, developing products that treat retina-related diseases, filed to raise up to $80 million. PresentlyPage: 1 2 3 4 Related biology technology :1
. Spherix Shareholders Support Companys Focus on Naturlose, Biotechnology2
. China Kangtai Cactus Biotech Files 2nd Quarter 2007 10QSB and Announces Unaudited Quarterly Results3
. ISI Increases West Coast Life Science and Biotech Support for Emerging Companies with Expansion in San Francisco and San Diego4
. Amyris Biotechnologies Co-Founder Neil Renninger Named to Technology Reviews Prestigious TR35 List of Top Young Innovators5
. Finkelstein Thompson LLP Announces GPC Biotech AG Investigation6
. Operon Biotechnologies and DNA2.0 Announce Co-Marketing and Technology Development Partnership7
. Clinical Data Acquires Epidauros Biotechnologie AG, Significantly Enhancing Proprietary Genetic Biomarker Portfolio8
. Microchip Biotechnologies, Inc. Secures Exclusive License to Use New University of Alberta Technology for Developing Microfluidic Devices9
. Shareholder Class Action Filed Against GPC Biotech AG by the Law Firm of Schiffrin Barroway Topaz & Kessler, LLP10
. Favrille CEO to Present at NewsMakers in the Biotech Industry Investment Conference11
. NeurogesX to Present at BioCenturys NewsMakers in the Biotech Industry Conference