Fourth Quarter and Recent Business Highlights
-- Pirfenidone: On November 26, InterMune announced that it had entered
into agreements with Marnac, Inc. and with co-licensor KDL GmbH that
will eliminate future royalty and milestone payment obligations for
pirfenidone related to the 2002 license agreement. The principal terms
of the new agreements were:
-- InterMune made total acquisition payments to the companies of $13.7
million. Of this total, a $7.5 million expense recorded in the
third quarter of 2007 relating to the 2002 license agreement was
applied to the acquisition payments for the new agreements. The
$6.2 million balance of the acquisition payments for the new
agreements was recorded in the fourth quarter of 2007.
-- Contingent acquisition payments associated with the new agreements
of up to an additional $53.5 million would be made by InterMune
only if positive Phase 3 data and registration in the United States
and European Union are achieved.
-- In addition, InterMune acquired exclusive worldwide rights from
Marnac to certain additional intellectual property for pirfenidone
that was not licensed under the 2002 licensing agreement, including
patents relating to the TNF-alpha activities of the compound.
-- ITMN-191: On January 7, 2008, InterMune reported the progress of its
Phase 1b multiple-ascending-dose (MAD) clinical trial evaluating
ITMN-191 (R7227) as monotherapy in patients with chronic hepatitis C
virus (HCV) infection. InterMune reported that:
-- It had completed the first two dosage cohorts in the study, with
total daily doses of up to 300mg, and that
|SOURCE InterMune, Inc.|
Copyright©2008 PR Newswire.
All rights reserved