Antisoma to develop Cancer Research UK compounds
This article was originally published in Scrip
Executive Summary
Antisomahas signed a licensing agreement with the Institute of Cancer Research and Cancer Research Technology(CRT), the commercialisation arm ofCancer Research UK, to acquire the rights to develop and commercialise PPM1D (protein phosphatase magnesium-dependent 1 d) inhibitors, which are thought to selectively kill cells that over-express this phosphatase. Antisoma will make an up-front payment and fund certain research at the institute. The company will also pay development and regulatory milestones as well as royalties on any sales of compounds resulting from the collaboration. The agreement is crucial in allowing the charity to take discoveries in its laboratory to patients much faster than it could achieve on its own, said Professor Paul Workman, director of the Cancer Research UK Centre for Cancer Therapeutics at the institute.
You may also be interested in...
Myotec and Hybrid merge to form PsiOxus
Myotec Therapeutics and Hybrid Biosystems are to merge to form PsiOxus Therapeutics with £3.6 million in funding from a syndicate led by the former's previous backer Imperial Innovations.
Trophos's MitoCare programme receives €6 million EU funding
A Phase II efficacy and safety study of Trophos' cholesterol-oxime compound TRO40303 to treat cardiac ischaemia-reperfusion injury in acute myocardial infarction patients will be substantially underwritten by funds from the European Union, the Marseilles-based company says. Trophos is to head a new 16-partner consortium called MitoCare, a 2.5 year international translational medicine project that has received a €6 million award under the European Union Seventh Framework Programme for research. The project will begin in January 2011.
Novartis and Alcon reach compromise to settle merger saga
Alcon's board of directors has finally approved a merger agreement with Novartis for the Alcon shares the latter does not already own, drawing a close to protracted negotiations that first began nearly a year ago.