Astex Pharma (ASTX) Says Janssen Pharma Cleared for Kinase Inhibitor Phase I; Gets $5.4M Milestone
Tweet Send to a FriendGet Alerts ASTX Hot Sheet
Up)
Trade ASTX Now!
Astex Pharmaceuticals, Inc. (Nasdaq: ASTX), announced that Janssen Pharmaceutica NV has received clearance to commence a Phase I clinical trial of a Fibroblast Growth Factor Receptor (FGFR) kinase inhibitor from its collaborative, cancer drug discovery program with Astex. The regulatory approval required to take the compound into Phase I triggers a milestone payment to Astex of £3.5 million (US$5.4 million). Astex is also eligible to receive further milestones during clinical development and royalties on commercialization of products derived from the collaboration.
The FGFR inhibitor program between Janssen and Astex originated from an earlier collaboration between Astex, the Cancer Research UK Drug Discovery Group at the Newcastle Cancer Centre (NCC), and the Northern Institute for Cancer Research, Newcastle University, UK. As part of the collaboration, Astex applied its fragment-based drug discovery approach, Pyramid™, to identify lead compounds inhibiting FGFR kinase. The partnership with Janssen was entered into in June 2008. Janssen is responsible for the clinical and regulatory development of all products arising from the collaboration and for their global commercialization.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The FGFR inhibitor program between Janssen and Astex originated from an earlier collaboration between Astex, the Cancer Research UK Drug Discovery Group at the Newcastle Cancer Centre (NCC), and the Northern Institute for Cancer Research, Newcastle University, UK. As part of the collaboration, Astex applied its fragment-based drug discovery approach, Pyramid™, to identify lead compounds inhibiting FGFR kinase. The partnership with Janssen was entered into in June 2008. Janssen is responsible for the clinical and regulatory development of all products arising from the collaboration and for their global commercialization.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Merck (MRK) Says Efficacy Not Achieved in Preladenant Phase 3s; Will Discontinue
- St. Jude Medical (STJ) Issues Encouraging Update for EnligHTN™ Multi-Electrode Renal Denervation System Following One Year
- Tessera (TSRA), Starboard Reach Agreement Over Board Composition
Create E-mail Alert Related Categories
Corporate News, FDA
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
