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Sep 22, 2008

BioMS Obtains $10M Milestone Fee from Eli Lilly

  • BioMS Medical received $10 million from Eli Lilly as a result of positive initial Phase II/III data from dirucotide (MBP8298) in secondary progressive multiple sclerosis. Interim analysis covered efficacy and safety data from the first 200 patients to complete the trial.

    BioMS obtained $87 million upfront in exchange for giving Eli Lilly worldwide, exclusive rights to MBP8298. The deal, which was inked in December 2007, calls for $400 million more in development and sales milestone fees.

    While the terms of the milestone payments are not being disclosed, a majority are linked to success in development, according to Amanda Spadel, investor relations manager for BioMS. In addition to the sales-based milestones, BioMS is also eligible for escalating royalties.

    Results from the ongoing Phase II/III MAESTRO-01 trial are expected in the second half of 2009. Lilly could decide at this point to take over the fiscal responsibility for further development.



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Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

Do you agree that ecstasy should be studied for its potential therapeutic benefits?

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