Microbia is pocketing a $70 million up front payment from Forest Laboratories in exchange for a 50/50 U.S. development pact for linaclotide, an experimental therapy for irritable bowel syndrome and other gastrointestinal problems. Forest gains exclusive rights to the drug in Canada and Mexico and will help pay development costs. If all goes according to plan, Microbia will garner up to $330 million in the deal. The therapy is currently in Phase IIb. Microbia was a 2006 Fierce 15 [1] company.
- see the release [2] on the deal
Related Articles:
Microbia lands whopping $75M fifth round. Report [3]
Forest Labs dumps failed stroke drug program. Report [4]
Forest buys Cerexa in $480M deal. Report [5]
Links:
[1] http://www.fiercebiotech.com/Fierce15/2006/microbia.asp
[2] http://www.fiercebiotech.com/press-releases/press-release-microbia-and-forest-laboratories-announce-linaclotide-co-development-an
[3] http://www.fiercebiotech.com/story/microbia-lands-whopping-75m-fifth-round/2006-02-27
[4] http://www.fiercebiotech.com/story/forest-labs-dumps-failed-stroke-drug-program/2007-08-30?utm_source=related&utm_medium=internal
[5] http://www.fiercebiotech.com/story/forest-buys-cerexa-in-480m-deal/2006-12-14