from the January 2007 issue

Epix Pharmaceutical in $1.2 billion deal with Glaxo Smith Kline

Epix (Nasdaq: EPIX) will get $35 million upfront from Glaxo (NYSE: GSK) to produce a number of drugs including one that treats early stage Alzheimer's disease. The companies said in a joint statement that Epix would be eligible to earn a potential $1.2 billion "based on the achievement of certain discovery, development, regulatory and commercial milestones."

Epix has research facilities in Israel, $17.5 million. It will also get royalties on Glaxo's sales of drugs produced through the venture.

Epix said it had been on the lookout for a partner. with vast experience in clinical development and commercialization. Glaxo was the ideal partner for the continued development of our 5-HT4 Alzheimer's program," said Epix chief business officer Chen Schor.

Reprinted from the Israel High-Tech & Investment Report January 2007

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