Actually, I would look for them to partner with a big Pharma of some type. Get paid a big cash upfront payment and future royalties. Typically they would get cash up front, more cash as it passes Phase 1 more cash phase 2, more cash phase 3, then a percentage of all sales. Typically, 5-10% of all sales. $5.6 Billion sales for Rituxibab. Wonder if any Big pharma's might be interested. Someone like this maybe........SANOFI AVENTIS SPONSORED ADR SNY: NYSE....Market Cap 90.2 B...Full Time Employees:104,867
Do you know what 5% per year of $5.6 Billion adds up to?
$280 million dollars btw.
MMR Information Systems and sanofi-aventis Enter Into AgreementRegarding Anti-CD20 Monoclonal Antibodies
Apr 22, 2010 08:35:19 (ET)
LOS ANGELES, CA, Apr 22, 2010 (MARKETWIRE via COMTEX) -- MMR Information Systems, Inc. (MMRF, Trade ) (MMR) disclosed today that it has entered into an agreement with sanofi-aventis China, an arm of the world's third largest pharmaceutical company in global prescription sales, regarding MMR's anti-CD20 monoclonal antibodies. The Company understands that these antibody assets may be used in the development of future treatment options for various autoimmune and B-Cell mediated diseases, which could include lupus nephritis, systemic lupus erythematosus, psoriasis, inflammatory bowel disease, respiratory distress syndrome, chronic lymphocytic leukemia, multiple sclerosis and vaculitis.
Dr. Bruce Garrett, President and Chief Operating Officer of GRSworldwide (GRS), MMR's biotech consultants on its anti-CD20 antibody assets, based in Rockville, Maryland, said, "These assets could show promise for treating a variety of medical conditions, chief among them cancer, rheumatoid arthritis and potentially others. Based on existing data, GRS believes this particular formulary has the potential to become one of the best anti-CD20 monoclonal antibodies in its class."
Robert H. Lorsch, Chairman and CEO of MMR Information Systems, Inc., noted, "Our primary business is the development, marketing and sales of the Company's personal and professional health IT products, however, maximizing shareholder value is always a primary focus. It now appears that monetizing pre-merger assets such as the anti-CD20 antibodies and licensing the use of clinical trials data and patient samples from FavId(R) trials, may represent a unique opportunity to generate shareholder value that was not contemplated as part of the Company's original post-merger business plan, particularly in the area of cancer research."
Earlier this month, MMR signed an agreement with the Lymphoma Research Foundation (LRF) under which the two organizations will work in good faith regarding the use of pre-merger Favrille intellectual property, including more than 150 lymphoma tumor samples accumulated by the Company as part of its research on which more than $140 million dollars was spent on the development of the FavId vaccine.
While the Company remains focused on its core business, including the MyMedicalRecords Personal Health Record and MMRPro for physician practices, it understands that clinical data and patient samples from the Company's trials may be valuable to universities, biopharmaceutical companies and research organizations, among other institutions. Additionally, the Company's anti-CD20 antibody assets could represent a potential candidate for the next generation Rituximab. Rituximab, which is sold under the brand name Rituxan(R) in the United States by Biogen Idec and Genentech (wholly owned member of the Roche Group) and under the name MabThera(R) by Roche in the rest of the world except Japan, where it is co-marketed by Chugai and Zenyaku Kogyo Co. Ltd., is one of the world's most successful monoclonal antibodies with reported 2009 sales of USD $5.6 billion.
AI
