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Subsequent Events
12 Months Ended
Dec. 31, 2013
Subsequent Events

18. Subsequent Events

In January 2014, we entered into a three-way agreement with BMS and Pfizer to include subjects dosed with apixaban, their jointly owned product candidate, in one of our Phase 3 studies of Andexanet alfa. We are responsible for the cost of conducting this clinical study. BMS and Pfizer will work closely with us on both development and regulatory aspects of Andexanet alfa in connection with our Phase 3 study to the extent such matters relate to apixaban. Pursuant to our agreement with BMS and Pfizer we are obligated to provide research and development services and participate on various committees.

The total consideration under this agreement of $25.0 million consists of a $13.0 million upfront payment and $12.0 million of payments due upon the achievement of certain milestones associated with the progress of our Phase 3 study.

In January 2014, we entered into a three-way agreement with Bayer and Janssen to include subjects dosed with rivaroxaban, their Factor Xa inhibitor product, in one of our Phase 3 studies of Andexanet alfa. We are responsible for the cost of conducting this clinical study. Bayer and Janssen will work closely with us on both development and regulatory aspects of Andexanet alfa in connection with our Phase 3 study to the extent such matters relate to rivaroxaban. Pursuant to our agreement with Bayer and Janssen, we are obligated to provide research and development services and participate on various committees.

The total consideration under this agreement of $25.0 million consists of a $10.0 million upfront payment and $15.0 million of payments due upon the achievement of certain milestones associated with the progress of our Phase 3 study.