The Life Sciences team advised Astex Pharmaceuticals (UK) on its exclusive worldwide research collaboration and license agreement with MSD to identify small molecule candidates with activity towards a tumour suppressor protein for the treatment of cancer.
Under the terms of the agreement, Astex will apply its fragment-based drug discovery platform to develop compounds and provide MSD with lead compounds for further optimization and preclinical development. MSD is granted an exclusive global license to research, develop, and commercialise candidates arising under the collaboration. Astex will receive an upfront payment of $35 million and is eligible for milestone payments associated with the achievement of preclinical, clinical, regulatory and sales milestones, totalling approximately $500 million per program, as well as tiered royalties on sales of any products arising from the collaboration. MSD will assume responsibility for funding all future research and development of lead candidates as well as commercialisation of products globally
Astex is a pharmaceutical company dedicated to the discovery and development of novel small molecule therapeutics for oncology and diseases of the central nervous system.
MSD is one of the world’s five largest pharmaceutical companies by revenue.
For more details, read the press release.