Cubist Buyout of Illumigen Worth Up To $341.5M

Cubist Buyout of Illumigen Worth Up To $341.5M

December 26, 2007--Cubist Pharmaceuticals will pay $9 million in cash for Illumigen Biosciences. Cubist will make payments during the development of Illumigen’s lead compound IB657 as a therapy for HCV infections of up to $75.5 million upon achieving certain development and regulatory milestones. If Cubist develops Illumigen products for the treatment of viruses other than HCV, development and regulatory milestone payments of up to $117 million could apply. Assuming that HCV or other Illumigen antiviral products are commercialized, additional milestone payments of up to $140 million, as well as tiered royalties, could apply. Cubist Pharmaceuticals 

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