Infinity Pharma (INFI) Amends Millennium Agreement Over PI3K Program

Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) amended its development and license agreement with Millennium: The Takeda Oncology Company and Takeda Pharmaceutical Company Limited (TSE: 4502) for Infinity’s phosphoinositide-3-kinase (PI3K) program. Under the amended agreement, Infinity continues to retain full worldwide rights to IPI-145, a potent, oral inhibitor of PI3K-delta and PI3K-gamma, as well as worldwide rights to any future product candidates targeting PI3K-delta and/or PI3K-gamma, and Millennium remains entitled to receive success-based milestones and tiered royalties on future worldwide sales of products covered by this agreement. In exchange for Infinity’s one-time payment of $15 million, Millennium waived its right to opt into a 50-50 U.S. profit and loss-sharing arrangement in the U.S. for any of Infinity’s PI3K inhibitors, including IPI-145. In addition, Infinity paid Millennium the $5 million development milestone for the August 2012 initiation of the Phase 2a clinical trial of IPI-145 in patients with asthma.

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