RE:RE:RE:RE:RE:RE:Pathetic PerformanceLet me bring many of you up to speed on what actually happened with Biogen deal.
______________________________________________________________________________
Toronto, Canada -- August 3, 2006 --
Amorfix Life Sciences Ltd. (TSXV: AMF), an emerging Canadian theranostics company, announced today that it has entered into a research and investment agreement with
Biogen Idec (NASDAQ: BIIB) of Cambridge, Massachusetts, which includes an option to license the exclusive worldwide rights to
Amorfix ’s technology to develop and commercialize therapeutic products directed against the neurodegenerative disease Amyotrophic Lateral Sclerosis (ALS).
Amorfix will conduct a planned research program with operational support and investment from
Biogen Idec .
On closing,
Biogen Idec subscribed for common shares of
Amorfix in the amount of US$375,000 representing 289,187 common shares at a price of Cdn $1.46 per common share. These shares are subject to a four-month hold period. Over the period of the option,
Biogen Idec may subscribe for additional common shares of
Amorfix in the amount of US$375,000 based on the achievement of predefined research milestones. If
Biogen Idec exercises its option,
Amorfix will receive an upfront payment and potential milestone payments in excess of US$25 million under the license agreement.
Amorfix will also receive royalties on commercial product sales. If the option is exercised,
Biogen Idec will be responsible for completing preclinical and clinical development, regulatory approvals, manufacturing and commercialization.
_________________________________________________________________________
TORONTO, Nov. 17/ 2008 /CNW/ - Amorfix Life Sciences, a company focused on treatments and diagnostics for brain wasting diseases, announced today that Biogen Idec (Nasdaq:BIIB - News) made their third investment in Amorfix with the purchase of 608,250 shares for gross proceeds to Amorfix of US$150,000. With this investment, Biogen Idec maintains its right to license Amorfix's superoxide dismutase-1 (SOD1) targeted therapies for use in ALS.
____________________________________________________________________________
July 15, 2010
Amorfix Life Sciences Ltd. (TSX:AMF) today announced that it has entered into a licensing agreement granting Biogen Idec (NASDAQ: BIIB) exclusive worldwide rights to Amorfix's lead amyotrophic lateral sclerosis (ALS) monoclonal antibodies. The antibodies have shown efficacy in animal models of ALS and Biogen Idec will now, at its expense, complete the development and prepare for clinical trials.
"We are very pleased to be working with a global biotech leader like Biogen Idec to bring our novel therapy to the patients who suffer from ALS and their families," said Dr. Neil Cashman, Amorfix's Chief Scientific Officer.
Under the agreement, Biogen Idec will receive the exclusive worldwide license to develop and commercialize Amorfix's Disease Specific Epitopes (DSE(TM)) antibodies for ALS while Amorfix retains all rights for vaccines and diagnostics. Amorfix will receive an up-front payment of US$1 million and is eligible to receive milestone payments and royalties on sales. Other terms of the deal were not disclosed.
On October 21, 2014 the Company announced that it would get the rights back for development and commercialization of the ALS antibody therapeutics originally licensed to Biogen-Idec effective January 14, 2015