Astex Pharmaceuticals Inc. announced that the multi-year collaboration to discover cancer therapeutics based on epigenetic targets entered into by SuperGen Inc. and GlaxoSmithKline (GSK) in November 2009 is terminating and existing research work and assets generated under the Climb epigenetic collaboration will be transferred to GSK.
Astex will have no further obligation to conduct additional research work on the program. The decision follows the review and rationalization of Astex’s internal pipeline and drug discovery programs as part of the merger of Astex Therapeutics Limited and SuperGen Inc. to form Astex Pharmaceuticals Inc., and discussions with GSK.
As a result of the transfer, Astex will continue to be eligible to receive milestones and royalties under an asset transfer agreement. A separate research and development collaboration and license agreement which includes a multi-target drug discovery collaboration, entered into by Astex’s subsidiary, Astex Therapeutics Limited, and GSK in November 2009 will continue as previously announced.
“The decision to transfer the Climb epigenetic program to GSK was based on our assessment of internal resources and discussions with GSK,” says Harren Jhoti, PhD, president of Astex Pharmaceuticals. “We continue to work closely with GSK on the discovery of molecules using our Pyramid fragment platform as part of our successful and ongoing collaboration against multiple targets of interest to GSK entered into in November 2009.”
Release Date: Jan. 16, 2011
Source: Astex Pharmaceuticals
