Astex Pharmaceuticals announced a major oncology deal today. The company signed a worldwide research collaboration with Genentech. This exclusive agreement establishes a new breast cancer therapy program.
Consequently, the alliance will target key regulators in tumor cells. Astex focuses heavily on small molecule therapeutics for oncology. Similarly, they develop treatments for central nervous system diseases. This partnership combines their unique fragment-based drug discovery tools. Furthermore, Genentech operates as a prominent member of the Roche Group. The collaboration aims to accelerate preclinical oncology candidates.
Financial Terms and Milestone Potentials
Under the agreement, Astex will grant an exclusive license to Genentech. This license covers compounds from their existing breast cancer therapy program portfolio. Then, both teams will collaborate to optimize these lead compounds.
Genentech will assume sole responsibility for all global clinical development. They will also handle the commercialization of all resulting medicines. Meanwhile, Astex receives a substantial upfront payment of $25 million.
Additionally, Astex remains eligible for future milestone payments. These preclinical, clinical, and regulatory milestones could total over $490 million. The company will also receive tiered royalties on global net sales.
Notably, this breast cancer therapy program originated from an earlier strategic alliance. Astex previously worked alongside Newcastle University and Cancer Research Horizons. Therefore, this new deal builds upon years of foundational research.
Michelle Jones, president of Astex Pharmaceuticals, said, “Working together with colleagues from Newcastle University, Astex’s fragment-based drug discovery expertise has led to the discovery of a novel and innovative approach to selectively inhibit this key oncology target for breast cancer therapy. Genentech’s focus on embracing innovation, its expertise in oncology and its longstanding dedication to innovation for breast cancer patients makes Genentech an excellent partner for this collaboration. We are delighted to be working together in this important drug discovery alliance with the aim to build on our progress and accelerate compounds into development in a rapidly emerging area of need which, as yet, remains unmet.”
Moreover, the partnership focuses heavily on precision therapies. This model addresses significant unmet medical needs globally.
“We are committed to pushing the boundaries of scientific innovation and turning breakthroughs into better outcomes for people with breast cancer,” said Boris L. Zaïtra, Head of Roche Corporate Business Development. “Working alongside partners like Astex Pharmaceuticals in pursuit of precision therapies against cell-cycle regulators, we follow the science to focus our innovation on the areas of the highest unmet need.”
Ultimately, this advanced breast cancer therapy program marks a major step forward. Both firms anticipate rapid progress toward clinical trials.
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News Source: GlobeNewswire.com
