Under the terms of the contract, Illumina will pay Pacific Bio a $98M termination fee.
Tilray inks deal to export 2.5 tons of weed into Israel
Tilray (TLRY -2.5%) enters into an agreement with InterCure Ltd.’s Canndoc Ltd. for the export of a single wholesale shipment of up to 2.5 tons of medical cannabis into Israel from Tilray Portugal Unipessoal Lda. Delivery, the first allowed there, should happen this month.
The company has also agreed to buy up to 5.0 tons of GMP-certified whole flower from Canndoc beginning mid-year. Assuming sign-off from Israeli regulators, the whole flower will be sent to its Portugal facility for processing into finished product for distribution across Europe.
Select Medical ups stake in Concentra to 65%
Select Medical Holdings (SEM -1.9%) has agreed to purchase ~17.2% of the outstanding ownership interests in joint venture subsidiary Concentra held by other investors for ~$338.4M, raising its ownership stake to ~65.2%.
Pulmatrix up 49% premarket on J&J deal
Thinly traded nano cap Pulmatrix (NASDAQ:PULM) is up 49% premarket on robust volume in reaction to its license and development deal with Johnson & Johnson’s (NYSE:JNJ) Lung Cancer Initiative for a lineup of narrow-spectrum kinase inhibitors.
Lead candidate is RV1162/PUR1800, based on PULM’s iSPERSE dry powder technology which enhances the efficacy of inhaled therapeutics.
Under the terms of the agreement, PULM will receive $7.2M upfront, a $2M milestone upon the completion of a Phase 1b study evaluating RV1162/PUR1800 in chronic obstructive pulmonary disease (COPD) patients, up to $91M in additional milestones if the Lung Cancer Initiative exercises its option to develop the kinase inhibitors and royalties on net sales.
Arena Pharma teams up with Beacon Discovery in immune/inflammatory space
Arena Pharmaceuticals (NASDAQ:ARNA) inks a multi-year collaboration agreement with Beacon Discovery aimed at developing novel drugs across a range of G protein-coupled receptor (GPCR) targets for the potential treatment of immune and inflammatory disorders.
Beacon will be responsible for drug discovery while Arena will be responsible for development and commercialization. Financial terms are not disclosed.
