Astex grants worldwide license to Novartis for novel cell-cycle inhibitor
Astex Therapeutics, a biotech company based in Cambridge, UK, has granted Novartis a worldwide license to the novel oral cell cycle inhibitor AT9311, currently completing IND-enabling preclinical studies. The deal also includes an option for a global license to its parenteral cell cycle inhibitor AT7519, currently in Phase 1 clinical trials.
Astex Therapeutics, a biotech company based in Cambridge, UK, has granted Novartis a worldwide license to the novel oral cell cycle inhibitor AT9311, currently completing IND-enabling preclinical studies. The deal also includes an option for a global license to its parenteral cell cycle inhibitor AT7519, currently in Phase 1 clinical trials.
AT7519 and AT9311 were both discovered using Astex's proprietary fragment-based drug discovery platform, Pyramid. In addition, the two companies are to establish a new drug discovery alliance focused on the identification of novel inhibitors of other cell-cycle control enzymes.
The agreement provides for an upfront payment and de-ferred equity commitment, as well as research funding, development reimbursements, milestones during clinical development and registration, and fees in relation to Novartis' exercise of its option to AT7519. Astex will also receive royalties on sales of products discovered and developed under the collaboration.
Total funding under the collaboration, excluding royalties, could be up to US$520m assuming AT9311, AT7519 and one other cell cycle control product are successfully commercialised.