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Sanofi, Ascenta agree up to $398 mn cancer R&D deal

Sanofi, Ascenta agree up to $398 mn cancer R&D deal
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First Published: Fri, Jun 04 2010. 11 56 AM IST
Updated: Fri, Jun 04 2010. 11 56 AM IST
Paris/London: Sanofi-Aventis boosted its early-stage pipeline on Friday with a deal worth up to $398 million for rights to experimental cancer compounds developed by US biotech firm Ascenta Therapeutics.
The most advanced compounds covered by the agreement, MI-773 and MI-519-64, are expected to enter preclinical development in 2010.
Ascenta is working on potential medicines that would be given by mouth to reactivate the tumour-suppressing function of the p53 gene. Ascenta itself in-licensed the compounds from the University of Michigan.
The US company will get an upfront payment and be eligible for milestone payments that could reach $398 million. It will also get tiered royalties on any eventual sales.
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First Published: Fri, Jun 04 2010. 11 56 AM IST