Vernalis and Novartis form cancer research collaboration

Published: 19-Dec-2003

UK company Vernalis has formed a research collaboration with the Novartis Institutes for BioMedical Research (NIBRI), in Cambridge, Massachusetts, to investigate inhibitors of a target implicated in the progression of a range of cancers.


UK company Vernalis has formed a research collaboration with the Novartis Institutes for BioMedical Research (NIBRI), in Cambridge, Massachusetts, to investigate inhibitors of a target implicated in the progression of a range of cancers.

Under the agreement Vernalis will provide elements of its ongoing oncology research to NIBRI for an initial six-month evaluation period, after which NIBRI will have the right to enter a longer-term r&d collaboration.

During the evaluation period NIBRI will both conduct its own research and fund research at Vernalis' laboratories in Cambridge, UK. If NIBRI subsequently exercises its option to enter the longer-term research and development agreement, it will make further payments to Vernalis which may include an equity investment in Vernalis.

  

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