Idenix Pharmaceuticals (IDIX)

[DewDiligence]

IDIX has terminated the HCV drug-discovery collaboration with MBRX that was initiated in Oct 2006 (#msg-14316386). This is reported on page 18 of IDIX’s 2Q07 10Q, which was filed with the SEC today.

http://www.sec.gov/Archives/edgar/data/1093649/000095013507004838/b66136ipe10vq.htm

Either IDIX has not been especially impressed with MBRX’s efforts since inking the deal or IDIX is simply saving money. IDIX spent about $3M in total on activities related to this collaboration (including $2M up-front) and would have spent $1.7 per year on continuing activities had the collaboration not been canceled.