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GNLB: 1.69 Genelabs Technologies regains exclusive rights to Prestara in Japan from Mitsubishi Tanabe Pharma (GNLB) 1.69 : Co announces that it has regained full development and licensing rights in Japan for its investigational lupus drug Prestara(TM) (GL701), under the terms of a termination agreement between the Company and Mitsubishi Tanabe Pharma Corporation. The agreement provided that Tanabe was responsible for conducting all development work and obtaining regulatory approval for Prestara in Japan. Under the terms of the agreement, GNLB received an initial $2 mln non-refundable license fee. In addition, $10 mln of milestone payments were to be made on the achievement of pre-determined development goals. No additional milestone payments were received by GNLB during the term of the agreement. Mitsubishi Tanabe Pharma continues to own common stock in the co which they purchased for $2.6 mln in connection with the collaboration and license agreement.