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GEN News Highlights : Mar 6, 2007

Shionogi Pays $14M for BioCryst’s Influenza Program in Japan

BioCryst could earn up to $116 million plus double-digit royalties.

BioCryst Pharmaceuticals and Shionogi & Co. entered into an exclusive license agreement to develop and commercialize BioCryst's lead influenza neuraminidase inhibitor, peramivir, in Japan for the treatment of seasonal and potentially life-threatening human influenza.

Shionogi will pay $14 million for rights to injectable formulations of peramivir. BioCryst may also receive future clinical  event payments of up to $21 million, commercial milestones of up to $95 million, and double digit royalty payments, ranging between 10% and 20%.