Byk and GPC sign $120 million genomics deal

Byk Gulden and drug discovery company GPC Biotech have announced thelargest pharmaceutical alliance in German biotechnology to date, under which GPC will set up a genomics research center in Massachusetts, USA, to be owned by Byk's parent company, Altana.

Altana is to commit $120 million to the center over the five-and-a-half-year term of the alliance. Of that, GPC will receive $60 million from Byk under a collaboration and license agreement, plus an anticipated further $10 million for sublease and service deals. GPC and Byk will collaborate on two undisclosed drug discovery programs, from which GPC is eligible to receive research, milestone and royalty payments in addition to the $70 million, while Byk will commit $50 million in internal research funding to the discovery programs and technology transfer over the period.