Astex Announces New Licensing and Drug Discovery Alliance to Develop Novel Cell Cycle Cancer Drugs

• Published in: PR Newswire p. 1
• Format: Newsletter
• Language: English
• Published: New York PR Newswire Association LLC 06.12.2005
• Subjects: Agreements; Alliances; Alzheimer's disease; Biotechnology industry; Cancer therapies; Candidates; Cell cycle; Collaboration; Cyclin-dependent kinases; Drug development; Enzymes; Kinases; Oncology; Pharmaceutical industry; R&D; Research & development; Royalties; England

Under the terms of the agreement Astex will be responsible for completing the preclinical development and IND/CTA filing for AT9311, and for conducting an initial Phase I clinical study. Novartis will be responsible for all further clinical development and commercialization of AT9311 globally. Astex is preparing to file an IND/CTA on AT9311 during the first part of 2006. Astex is also responsible for the continuing clinical development of AT7519 through the completion of Phase II studies when, subject to exercise of their option, Novartis will assume responsibility. The agreement also grants Astex an option to co-commercialise oncology products developed under the collaboration in the USA. Astex is a UK-based biotechnology company producing novel small molecule therapeutics. Using its pioneering fragment-based drug discovery approach, Astex has rapidly established a broad pipeline of next generation, molecularly-targeted oncology drugs. In addition to AT7519 and AT9311, Astex has used its Pyramid(TM) drug discovery platform to develop a third product candidate, the aurora kinase inhibitor AT9283 which is currently in pre- clinical development with an IND/CTA planned for late 2005. Astex's leading position in fragment-based drug discovery derives from its integrated discovery engine, Pyramid(TM). High-throughput X-ray crystallography and other biophysical techniques are used to identify drug fragments bound to target proteins and to transform the fragments, using efficient medicinal chemistry, into potent, selective drug candidates. Pyramid(TM) has been successfully applied across a wide variety of therapeutic targets, including those regarded as 'intractable' by the pharmaceutical industry, resulting in lead compounds for the potential treatment of cancer, inflammation and Alzheimer's disease. Astex was established in 1999 and is well financed by leading, blue chip US and European investors (Abingworth, Advent International, Alta Partners, Apax, GIMV, HypoVereinsbank, Oxford Bioscience Partners, Schering AG and the University of Cambridge).