Biotech, deals, Lupus
La Jolla Pharma Inks BioMarin Deal
Luke Timmerman 1/7/09
La Jolla Pharmaceutical (NASDAQ: LJPC) has formed a partnership to co-develop its experimental drug for lupus of the kidneys, Riquent, with Novato, CA-based BioMarin Pharmaceuticals (NASDAQ: BMRN). La Jolla will receive a $15 million upfront payment, and could stand to get $289 million in cash and equity from BioMarin if the drug reaches certain development goals. The medicine is in the final stage of clinical trials.
Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.
