S*BIO of Singapore has optioned its two leading drug candidates to Onyx Pharmaceuticals in a deal that could be worth up to $550 million. As an upfront payment, S*Bio will receive $25 million in a combination of cash and equity investment. The agreement gives Onyx the right to exercise its options for S*BIO’s JAK2 inhibitors, SB1518 and SB1578, at certain predetermined development points. Each drug will be optioned separately. At that point, Onyx will have an exclusive license for all indications for the specific drug in the US, Canada and Europe. More details...

Stock Symbols: (NSDQ: ONXX) (NYSE: NVS)