Biogen and Sunesis enter collaboration
Biogen Idec and fellow US firm Sunesis Pharmaceuticals have entered intoa discovery and development deal for small-molecule therapeutics that target kinases, a group of enzymes which play a significant part in the progression of cancer.
Under the terms of the accord, the firms will use Sunesis' proprietary Tethering technology to discover small-molecule leads for which the company will be paid $7.00 million. In addition, Sunesis will receive a $14 million equity investment, research funding to support its scientific personnel over the initial four-year term, pre-commercialization milestone payments and product sales-based royalties from Biogen. It also retains an option to co-develop and co-promote several products originating from this alliance.
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