Pharmasset Ltd., Roche deal

ROCZ licensed from Pharmasset worldwide rights to PSI-6130, a nucleoside polymerase inhibitor, and its prodrugs to treat HCV infection. The rights exclude Latin America and Korea. Pharmasset is responsible for preclinical development and Phase I trials. ROCZ is responsible for additional clinical development and will do other preclinical studies. Pharmasset, which will retain certain U.S. co-promotion rights, will receive an upfront fee and research and development support, and is eligible for milestones of up to $168 million plus royalties. Roche Venture Fund also made a $4 million investment in Pharmasset and received warrants to purchase an additional $6 million worth of shares. ...