Astex strikes cancer collaboration with Genentech
UK drugmaker Astex Pharmaceuticals today announced that it has entered into an exclusive, worldwide research collaboration and license agreement with Genentech, a Roche (ROG: SIX) subsidiary, to identify small molecule drug candidates with selective inhibitory activity as potential treatments for breast cancer.
Under the terms of the accord, Astex - a wholly-owned subsidiary of Japan’s Otsuka (TYO: 4578) - will grant Genentech an exclusive license to compounds from Astex’s existing drug discovery program for breast cancer and will collaborate with Genentech to accelerate the further optimization and development of lead compounds towards the identification of pre-clinical candidates. Otsuka’s shares were up 3.4% at 11,680 yen on the news.
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