Please login to the form below

Not currently logged in
Email:
Password:

Coley Pharmaceutical buys 3M's therapeutic R&D programmes

Coley Pharmaceutical has entered into an agreement with 3M to acquire the majority of its therapeutic Toll-like receptor cancer programmes

US-based Coley Pharmaceutical has entered into an agreement with 3M to acquire the majority of its therapeutic Toll-like receptor (TLR) cancer programmes.

The acquisition brings along with it a pipeline of clinical and preclinical small molecule candidates targeting TLR7 and TLR8, as well an extensive intellectual property estate of more than 200 issued and several hundred pending patents and an extensive library of approximately 10,000 small molecule compounds that stimulate these receptors.

Coley says it will start phase I/II clinical trials in a cancer indication in 2008 with one of the newly-acquired TLR small molecules.

Per the agreement, 3M will receive guaranteed cash payments of USD 20m over a three-year period, including an immediate payment of USD 5m. 3M could also receive milestone payments, as well as royalties from the sale of any products developed and commercialised through the acquisition.

The acquisition is synergistic with Coley's patent portfolio in TLR9-targeted drugs by adding robust intellectual property and broad freedom to operate rights in the area of TLR7- and TLR8-targeted agents.

3M has already sold a large proportion of its pharmaceuticals business, including actinic keratosis treatment, Aldara (imiquimod), but retained most of its TLR development platform. Coley is buying the remaining rights with the exception of certain fields and several small molecules.

Coley says it will record a USD 20m charge for acquired in process R&D in its financial statements for FY07. As a result, the company has amended its FY07 net loss guidance to incorporate this charge to existing R&D costs and now expects its full-year net loss to be in the region of USD 45m to USD 49m, with the R&D spend predicted to be approximately USD 59m.

14th June 2007

Share

PMEA Awards 2020

COVID-19 Updates and Daily News

Featured jobs

PMHub

Add my company
Streaming Well

Streaming Well is a healthcare-focused, award-winning video production company which operates in the US and Europe. We create engaging visual...

Latest intelligence

#DemandDiversity: For International Women's Day, we ask... why do women often suffer from more side effects than men?
Women are largely prescribed exactly the same treatment regimens as men, with no account for the underlying differences in physiology and drug metabolism between the sexes....
Good design saves lives
Good design and creative thinking are essential if we are to improve on existing problems in new ways, which is why design and creativity within healthcare is vital. Health is...
Why you must understand the pricing of patient recruitment companies
Recruiting a diverse range of patients and engaging with them for your clinical trial isn’t an easy task, which means you might turn to patient recruitment companies, like us, who...

Infographics