SAN DIEGO, Calif. (AP) – Ardea Biosciences has received a $7.5 million payment from Bayer HealthCare, its partner on an experimental cancer drug.
Bayer started a new clinical trial of BAY 86-9766, a drug candidate Ardea discovered. The trial compares a regimen of BAY 96-9766 and the drug Gemzar as a treatment for advanced pancreatic cancer. Bayer is also running a mid-stage trial of a drug as a treatment for liver cancer.
The company is also studying two potential treatments for gout. On April 23 Anglo-Swedish drug company AstraZeneca PLC agreed to buy Ardea for about $1.26 billion, or $32 per share.
Date: May 30, 2012
Source: Associated Press