La Jolla Pharmaceutical (NASDAQ: [[ticker:LJPC]]) has formed a partnership to co-develop its experimental drug for lupus of the kidneys, Riquent, with Novato, CA-based BioMarin Pharmaceuticals (NASDAQ: [[ticker:BMRN]]). La Jolla will receive a $15 million upfront payment, and could stand to get $289 million in cash and equity from BioMarin if the drug reaches certain development goals. The medicine is in the final stage of clinical trials.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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