Biotech Values

[ghmm]

That will hardly make a dent in the hundreds of millions of milestones ITMN could receive.
I agree just didn’t want to be accused of (over) hyping InterMune.

ITMN refers to ARRY as their “partner” rather than their “licensor.” How is it that ARRY is getting so little out of all this? T.i.a.
My take is they are being gracious which is more then I can say for Array. The compound was started in InterMune labs and not jointly for one. Array was bought in to help with the Chemistry (InterMune doing the biology). They have also said Array helped with the modeling and GMP manufacturing. I don’t have a science background and never heard ITMN detail their (Array’s) contribution beyond that to know how much it is worth. I get the impression array is sort-a a biopharma consulting company where they contract out their scientists. I got the impression on one of their recent presentations that they want to do more in-house development (maybe they feel that 5% royalties aren’t where its at!)
Its interestingly when Array refers to their partnership they say InterMune has refocused the whole company around it. Yes, I will agree this is by far the highest profile item and you get the Pulmonology candidates at very low cost in the valuation however Actimmune generating 90-100 million in revenue isn’t exactly nothing!

I looked through my InterMune notes and couldn’t find a reference to the royalty beyond “small”. I know today they gave the impression of mid single digits. I thought I had somewhere com across low single digits but don’t quote me on that maybe it was in an Array presentation and that’s why I can’t find it?

Have a lot of thoughts on what this deal means for HCV drug development especially for Vertex (surprised others aren’t speculating) but I won’t count my chickens I know there is still a long way to go and Vertex has successfully passed milestones we have yet to approach! Its good to know InterMune has a much wider array of backup compounds should 191 run into something in the clinic.

Does anyone know if there will be anywhere that we can get information on what the FDA decides for HCV clinical development in the meetings the next couple days? thanks.