September 29, 2008

Breckenridge Signs LOI With IDL

Breckenridge Pharmaceutical, a privately held pharmaceutical marketing, R&D company, has entered into an agreement with IDL, a drug development consulting company, to develop and market an abbreviated new drug application for a cancer drug with US branded sales of approximately $600 million.

Under the terms of this letter of intent (LOI), IDL will develop and manufacture the product which will be marketed and distributed by Breckenridge.

The two companies plan to file an abbreviated new drug application with the FDA in early 2009.