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Anacor Strikes Acne Deal With Medicis

Xconomy San Francisco — 

Palo Alto, CA-based Anacor Pharmaceuticals (NASDAQ: ANAC) said today it has formed a research collaboration with Scottsdale, AZ-based Medicis Pharmaceutical (NYSE: MRX) to discover and develop boron-based small molecule drugs against acne. Anacor will get $7 million upfront, and could get milestone payments of as much as $153 million. Anacor went public back in November, raising $60 million.