The Day In Review: Tercica, Inc. And Ipsen Sign Cross-License Deal

July 19, 2006 -- Tercica signed a deal with French pharma Ipsen, granting European rights for Increlex to Ipsen and US rights for Somatuline to Tercica; Ipsen will make a $77 million investment in Tercica; Tercica also out-licensed a diabetes drug to Roche; Somaxon said the FDA wants additional pre-clinical data on its insomnia drug, Silenor; Prana published positive preclinical data on its Alzheimer’s drug; Geron said its lead stem cell product was safe in preclinical tests; and as expected, President Bush vetoed the stem cell bill that Congress presented to him yesterday. Biotech had a very positive session as the Centient Biotech 200™ rose 69 points to 3564.42, a jump of 1.97%, the fourth biggest gain this year. More details...