News Section | Cancer Research
MedImmune, Infinity in cancer drug deal
U.S. firms MedImmune and Infinity said Monday they’ve struck a deal worth up to $500 million to jointly develop cancer drugs.
MedImmune paid an upfront fee of $70 million to Infinity for co-exclusive, shared rights to product candidates that target the heat shock protein, or Hsp90, and the Hedgehog cell-signaling pathway. Under the terms of the deal, Infinity could receive up to an additional $430 million in milestone payments.
IPI-504, which is an Hsp90 inhibitor, is the most advanced compound included in the deal. It has been studied in two phase 1 trials.
“With IPI-504, we have a promising drug candidate with already-established preclinical, in vivo proof of concept and the potential to reach the market by 2010,” said Edward Mathers, MedImmune’s executive vice president, corporate development and venture.
“In addition, we expect to be able to commence clinical testing of the next generation oral formulation of IPI-504, as well as an oral formulation of a hedgehog inhibitor within the next 12 to 18 months,” Mathers added.
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