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Daily Archives: January 4, 2007

Boston Life Sciences bids $35M for spinal cord drug license

Published: January 4, 2007

Hopkinton-based Boston Life Sciences Inc. reports it has put up a potential $35 million-plus for an exclusive, worldwide license with BioAxone Therapeutic Inc. of Montreal, Canada, to develop and commercialize Cethrin, as well as other specified compounds, to treat acute spinal cord injury (SCI) and other serious Central Nervous System disorders.

The license agreement has BLSI paying an upfront license fee of $10 million, payable in two installments ($2.5 million of which was paid on execution and $7.5 million due on or before March 31, 2007), possible performance milestones of up to $25 million, and ongoing royalties based on sales of Cethrin after approval.

Boston Life Sciences Acquires Rights to Develop and Commercialize Promising Phase II Spinal Cord...

Published: January 4, 2007

Interim Results Report Drug’s Safety and Possible Recovery of Function After Debilitating Injury; FDA “Orphan Drug” Status Provides Important Strategic Advantages

HOPKINTON, Mass., Jan. 4 /PRNewswire-FirstCall/ — Boston Life Sciences, Inc. (Nasdaq: BLSI – News), a Biotechnology company focused on diagnostic and therapeutic products for Central Nervous System disorders, announced today that it has entered into an exclusive, worldwide license with BioAxone Therapeutic Inc. of Montreal, Canada, to develop and commercialize Cethrin as well as other specified compounds subject to the license to treat acute spinal cord injury (SCI) and other serious central nervous system disorders. The license provides for an up-front license fee, possible performance milestones, and on-going royalties based on sales of Cethrin after approval.

BioAxone Therapeutic Licenses Phase II Spinal Cord Injury Drug Cethrin(R) to Boston Life Sciences

Published: January 4, 2007

MONTREAL, Jan. 4 /PRNewswire/ – BioAxone Therapeutic announced today that it has licensed its clinical phase II spinal cord injury drug Cethrin to Boston Life Sciences, Inc. (NASDAQ:BLSI – News). The worldwide, exclusive licensing agreement grants Boston Life Sciences the rights to develop and commercialize BioAxone’s portfolio of proprietary recombinant fusion proteins, products, and associated patents to treat acute spinal cord injury (SCI) and other serious Central Nervous System disorders. The license provides for an up-front license fee of US$10 million payable in 2 installments (US$2.5 million paid on execution and US$7.5 million due on or before March 31, 2007), possible performance milestones of up to US$25 million and on-going royalties based on sales of Cethrin after approval. Detailed terms of the license were not disclosed.