Asset Purchase Agreement

6 Months Ended

Jun. 30, 2011

Asset Purchase Agreement

AssetPurchaseAgreement

12.   Asset Purchase Agreement

In May 2011, the Company and TenX BioPharma, Inc. (“TenX”) entered into an asset purchase agreement in which the Company acquired all assets and rights related to the Zanolimumab product candidate and related technology from TenX. The Company paid approximately $3.1 million in conjunction with the closing of this acquisition, and has recorded this amount in the Company's statement of operations as research and development expense in the Company's biosciences segment. The asset purchase agreement also contemplates additional milestone payments and specified percentages of future net sales.