Biotech Values

[DewDiligence]

Synthon will get a cut of Herceptin FoB developed by AMGN/WPI; it also seems to have a competing compound for T-DM1 (see bottom):

http://www.synthon.com/en/news/current.aspx

Nijmegen, the Netherlands, 18 July 2012 – Synthon today announced that it has entered into a global license agreement with Amgen Inc. (NASDAQ:AMGN) and Watson Pharmaceuticals, Inc. (NYSE:WPI) for Synthon’s trastuzumab, being developed as a biosimilar to Herceptin, which is currently approved for treatment of breast cancer and gastric cancer. Earlier this year, Synthon successfully completed a Phase I clinical trial in Europe showing bio-equivalence between its trastuzumab biosimilar and Herceptin. The company was preparing for a confirmatory Phase III trial for Europe with this compound.

Under the agreement, Watson has acquired the license to the biosimilar program and has contributed it to the Amgen/Watson biosimilars collaboration. Amgen and Watson will assume responsibility for all future development work worldwide, including Phase III clinical trials, as well as global manufacturing and commercialization. Synthon will provide transitional support as set forth in the agreement. The deal entitles Synthon to an initial payment and potentially a milestone fee and royalties on net sales. Synthon will also receive compensation for its transitional support activities under the agreement. Synthon has retained rights to move forward independently with a HER2-targeted antibody-drug conjugate (ADC) candidate using its proprietary Linker-Drug technology.