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Momenta Pharmaceuticals, Inc.

Drug Names(s): generic Copaxone, glatiramer acetate, M356

Description: M356 is a generic version of Copaxone. Copaxone (glatiramer acetate) is an approved drug for the treatment of multiple sclerosis. It is a synthetic analog of myelin basic protein, a component of the myelin that insulates nerve fibers in the brain and spinal cord. It binds to MHC molecules on T cells, preventing native myelin antigens from binding to these T cells and consequent attacks on myelin-covered nerve fibers.

Deal Structure: M356 was developed under a collaboration between Sandoz and Momenta.

In July 2006, Momenta announced an exclusive collaboration with Sandoz to develop four follow-on and complex generic versions of previously approved recombinant biotechnology and complex drugs. The two companies will jointly develop, manufacture and commercialize all of these candidates, and share the profits from the sales of all products under separate profit share arrangements for each product, including an equal profit split specifically on the product candidate from Momentas pipeline.

As part of the collaboration, Sandoz will make an initial payment of $75 million to Momenta for the purchase of approximately 4.7 million shares at a price of $15.93 per share, a 30% premium to the trailing 30-day average. Momenta is also eligible to receive up to $188 million in additional payments if all milestones are achieved for the four product candidates.

Partners: Novartis AG

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