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Biogen, Inc.

Drug Names(s): CNF1010

Description: CNF1010 is a small molecule inhibitor of heat shock protein 90 (HSP90). HSP90 is a molecular chaperone protein that regulates the folding and degradation of key signaling molecules in cells. CNF1010 contains a new proprietary form of the geldanamycin derivative 17-AAG, in a novel, optimized formulation.

Deal Structure: In May 2006, Biogen Idec and Conforma Therapeutics Corporation announced that they signed a definitive merger agreement for the acquisition of Conforma by Biogen Idec, which includes CNF1010. Upon completion, Biogen Idec will acquire all of the issued and outstanding shares of the capital stock of Conforma for $150 million, payable at closing, and up to an additional $100 million upon the achievement of certain development milestones.

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