On January 6, 2003, UK biopharmaceutical company Antisoma Plc. announced the successful completion of its November 2002 out-licensing and collaboration agreement with Swiss pharmaceutical company Roche, whereby Roche took first refusal rights over certain of Antisoma's oncology pipeline candidates. Completion triggered upfront payments by Roche of around US$43 million, comprised of US$37 million for product rights plus £4.15 million for just under 10 percent of Antisoma's share capital to gain access to the existing Antisoma portfolio.

At the time, this was considered to be the largest-ever biotechnology deal in Europe and to represent, through its out-licensing of an entire pipeline, a new model for biotechnology/big pharmaceutical deals. Milestone payments to Antisoma could exceed US$500 million if all existing pipeline products were successfully launched, plus royalties on product sales.