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GEN News Highlights : Feb 27, 2009

Immtech Considers an Alliance with Beijing Pharmaceutical

Agreement would gives BPGC access to Immtech's compound library.

Immtech Pharmaceuticals signed a memorandum of understanding (MOU) confirming its interest in exploring an alliance with Beijing Pharmaceutical (BPGC), which would grant the Chinese company rights to develop Immtech's drugs designed to target high-prevalence diseases. The companies will continue negotiations on the possible alliance pending BPGC's satisfactory review and valuation of Immtech's assets.

The potential alliance would also give BPGC access to patented technologies from Immtech's international relationships as well as markets in the U.S., the Middle East, Africa, and Europe.

"They are an ideal partner to draw on Immtech's extensive portfolio of compounds as well as our strong international network of collaborators in drug development and other business areas," says Eric L. Sorkin, chairman and CEO of Immtech.
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