TopoTarget buys full control of belinostat from Curagen
Danish drugmaker TopoTarget AS has gained full control of belinostat so that global rights are now wholly owned by the company. The firm's lead product is due to enter a registration trial in the second half of this year. TopoTarget bought the rights to the Phase I/II histone deacetylase inhibitor from development partner CuraGen for $39.0 million upfront in cash and stock. The US firm will receive $26.0 million in cash and five million shares of TopoTarget, currently valued at approximately $13.0 million, and $6.0 million in milestone payments related to future net sales and sublicenses of the potential blockbuster.
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