Astex/AstraZeneca Alliance
Astex Therapeutics -AstraZeneca and Astex announce new anti-cancer drug discovery alliance:
"Cambridge, UK, 27th July 2005. AstraZeneca and Astex Therapeutics today announced a new alliance to discover, develop and commercialize novel small molecule inhibitors of Protein Kinase B (PKB; also known as Akt) for use as anti-cancer agents.
The Collaboration and License Agreement grants AstraZeneca worldwide rights to PKB inhibitors discovered under Astex’s existing PKB drug discovery collaboration with The Institute of Cancer Research and Cancer Research Technology. Astex and its collaboration partners will be responsible for providing drug candidates which meet pre-defined criteria to AstraZeneca which, in turn, will be responsible for progressing these candidates through development and into the market.
Under the Agreement, AstraZeneca will provide Astex with an upfront payment of �2.75 million ($5 million), research funding, as well as milestone payments of up to �150 million ($270 million), subject to the satisfactory achievement of development, regulatory and sales targets. In addition, Astex is eligible to receive up to double-digit royalties on commercial sales of approved products. Astex also retains an option in the USA to co-promote products arising from the collaboration."
"Cambridge, UK, 27th July 2005. AstraZeneca and Astex Therapeutics today announced a new alliance to discover, develop and commercialize novel small molecule inhibitors of Protein Kinase B (PKB; also known as Akt) for use as anti-cancer agents.
The Collaboration and License Agreement grants AstraZeneca worldwide rights to PKB inhibitors discovered under Astex’s existing PKB drug discovery collaboration with The Institute of Cancer Research and Cancer Research Technology. Astex and its collaboration partners will be responsible for providing drug candidates which meet pre-defined criteria to AstraZeneca which, in turn, will be responsible for progressing these candidates through development and into the market.
Under the Agreement, AstraZeneca will provide Astex with an upfront payment of �2.75 million ($5 million), research funding, as well as milestone payments of up to �150 million ($270 million), subject to the satisfactory achievement of development, regulatory and sales targets. In addition, Astex is eligible to receive up to double-digit royalties on commercial sales of approved products. Astex also retains an option in the USA to co-promote products arising from the collaboration."
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