Sunesis Pharma (SNSS) Gets $1.5M Milestone from Biogen (BIIB) Under Multi-Kinase Inhibitor Agreement

Sunesis Pharmaceuticals, Inc. (Nasdaq: SNSS) today announced that it has received a $1.5 million milestone payment from Biogen Idec (Nasdaq: BIIB) for the advancement of pre-clinical work under its 2011 amended and restated multi-kinase inhibitor collaboration agreement. Under the agreement, Sunesis is also eligible to receive up to $60 million in pre-commercial milestone program payments as well as royalties on sales of future collaboration products. Sunesis retains future co-development and co-promotion options to the program.

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