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----------------------------------------------------------------------- Amgen Acquires Rights From Guilford on Neurotrophic Agents ----------------------------------------------------------------------- BALTIMORE, Md. and THOUSAND OAKS, Calif., Aug 22 (Reuters) - Guilford Pharmaceuticals Inc., and Amgen have entered into an agreement granting Amgen worldwide rights for Guilford's FKBP-neuroimmunophilin ligands, a class of small molecule orally active neurotrophic agents, which are being developed to promote nerve regeneration and repair in neurodegenerative disorders. Under the terms of the agreement, Amgen will receive worldwide rights to FKBP-neuroimmunophilin compounds for all human therapeutic and diagnostic applications. Amgen will conduct and pay for all clinical development and manufacturing of products, and will market products worldwide. Amgen will pay Guilford in several phases. Guilford will receive a total of $35 million in rights payments upon closing, in the form of a $15 million cash signing payment, $15 million for purchase of Guilford equity, plus a $5 million purchase of 700,000 warrants exercisable at 150% of the purchase price. Amgen will also provide $13.5 million over three years to support research activities at Guilford on the neuroimmunophilin program. There is also a provision for various milestone payments. Dr. Craig R. Smith, President and Chief Executive Officer of Guilford said, "We received a great deal of interest from many companies for our neuroimmunophilin program. We chose Amgen because we were impressed with their commitment to the area, and their demonstrated capability in pre-clinical and clinical development. We appreciate being able to work with such an outstanding partner in the development of innovative neurological products." Copyright 1997 Reuters Limited. <http://www.reutershealth.com/news/docs/199708/19970822inb.html> ------------------------------------------------------------------------- [log in to unmask]