Forma Therapeutics announced an exclusive alliance with Janssen Biotech Inc. in which the two companies will collaborate on the discovery, development, and commercialization of novel small molecule drug candidates that target tumor metabolism mechanisms.
Under the terms of the research collaboration and license option agreement, Forma will discover and develop drugs against a panel of tumor metabolism targets. Forma may receive project and milestone funding over several years of up to $700 million if development, regulatory, and commercialization milestones are achieved for drug candidates successfully launched through the collaboration.
In addition, Forma may be eligible for royalties on revenues from commercialized products as a result of the collaboration. If certain milestones are achieved during the initial phase of the collaboration, Forma will have the opportunity to co-develop and maintain North American commercial rights to one program of Janssen’s selection. The parties can expand the collaboration to include additional targets, including areas beyond tumor metabolism.
Release Date: Jan. 10, 2012
Source: Forma Therapeutics