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Juvista

Inspired Capital plc

Drug Names(s): Avotermin, RN1001, RN1006

Description: Juvista is a therapeutic application of human recombinant Transforming Growth Factor ß3 (TGFß3). TGFß3 is present at high levels in developing embryonic skin and in embryonic wounds that heal with no scar, but by contrast, is present at low levels in adult wounds that scar.

Deal Structure: OSI (Astellas), Renovo and Ciba-Geigy (Novartis)
OSI originally developed TGF-beta with Ciba-Geigy for impaired wound healing and oral mucositis. Both indications failed in the Phase I/II trials. OSI subsequently licensed the rights for the anti-scarring indication to Renovo.

In 1996, Novartis was created through the merger of Ciba-Geigy and Sandoz.

The nature of OSI and Renovo's original license arrangement is such that OSI will receive a proportion of all development sales milestones and royalties received by Renovo. OSI in turn will have to pay Novartis a small proportion of anything it derives from Renovo.

On March 1, 2010, Astellas Pharma announced they will commence a tender offer to acquire all outstanding shares of common stock of OSI Pharmaceuticals for $52.00 per share in cash, or an aggregate of approximately $3.5 billion on a fully diluted basis.

On May 16, 2010, Astellas Pharma and OSI Pharmaceuticals announced that they have entered into a...See full deal structure in Biomedtracker

Partners: Astellas Pharma, Inc. Novartis AG


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