CombinatoRx amends agreements with Fovea, GE Capital Corp.

By Lisa Kerner

Charlotte, N.C., June 30 - CombinatoRx, Inc. and Fovea Pharmaceuticals SA amended their Research and License Agreement to provide for the payment by Fovea to CombinatoRx of a license execution fee of $500,000 by July 31.

The amended agreement also gives Fovea until Dec. 31 to determine which of CombinatoRx's compounds it will license for further research and development in certain ophthalmic indications, according to an 8-K filing with the Securities and Exchange Commission.

In addition, CombinatoRx amended its secured equipment line of credit with General Electric Capital Corp., increasing the credit by $3.3 million.

CombinatoRx is a biopharmaceutical company located in Cambridge, Mass.

Fovea is a Paris-based biopharmaceutical company.

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