Novato Chamber of Commerce CEO
Novato-based BioMarin Pharmaceutical Inc. and Summit Corporation announced that they have entered into an exclusive worldwide licensing agreement for SUMMIT’S novel preclinical candidate SMT C1100 and all follow-on molecules, which are be developed to treat the fatal genetic disorder Duchenne muscular dystrophy (DMD).
Under the terms of the licensing agreement, Summit will receive an up-front payment of $7 million in the form of an equity investment in Summit shares, future development and regulatory milestones totaling $51 million tiered royalties rising to the low teens, depending on sales and product sales milestones, giving a total deal value of up to $143 million. The total expense to BioMarin in 2008 is expected to be approximately $1.8 million.
Summit will be responsible for completing the preclinical development of SMT C1100. BioMarin will be responsible for the clinical development, regulatory filing and commercialization of the product candidate.
We are all so pleased with BioMarin’s success and are glad to have them in Novato.
On a green note, Blake’s Auto Body continues its innovative green business practices in the Bay Area, always looking to make a difference. The corporation leads its competitors in the collision repair industry in being environmentally aware.
The auto body chain with a location in Novato is known for its progressive stance in utilizing renewable electricity sources for its facilities and recently converted its Novato site on Vallejo Avenue to solar.
Blake’s Auto Body has taken another innovated step towards improving the environment. The firm is now using waterborne paints.
Blake’s was one of the first American auto body repair companies to begin using the waterborne paints (only 1 percent of the industry in the U.S. is currently using the paints). The primary difference between waterborne paints and solvent-based paints is water is emitted into the air instead of chemical solvents. The levels of volatile organic compounds (VOCs) released into the environment are reduced.
The U.S. Environmental Protected Agency designated Blake’s Auto Body as a member of its Green Power Partnership in 2003, and the company also received a best practice award from the Sonoma Business Environmental Alliance.
Let’s move on to talking about great cheese. Each year visitors from all over the world come to “The Cheese Factory” of Rouge et Noir to sample award-winning cheeses, learn about how they are made, and find new recipes and serving ideas.
Start your next visit by watching the artisan cheese makers produce more than 35 cheeses by hand. After the tour, taste generous samples of the cheeses in the beautiful store. If it rains don’t worry, there is café seating, hot chocolate, coffee, soup and a delicious assortment of deli foods.
The cheese factory is very popular for local Bay Area trips as well as vacationers and tourists from all over the United States and the world.
A favorite spot for picnickers, hikers, bicyclists, motorcyclists and vacationers there is even room to park limousines, tour buses and the family camper. Marin French Cheese Co. is located at 7500 Red Hill Road. Located north of San Francisco, east of Napa County, west of Pt. Reyes and Olema and southwest of Sonoma County.
From cheese, why not talk about some local brews? The 8th Annual “Fermenting Change” Microbreweries Battling Breast Cancer, hosted by Marin Brewing Company, Moylan’s Brewing Company and Noonan’s Bar and Grill was the most successful year since its inception.
General manager and festival organizer Jenn Procopio is very pleased to announce a donation of $40,000 to the Charlotte Maxwell Clinic, a clinic offering cancer services to low-income women, with offices in Berkeley and San Francisco.
For more information on the clinic please visit www.charottemaxwell.org.