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Vertex, Novartis in protein kinase play

May 9, 2000 7:00 AM UTC

VRTX will receive more than $200 million in research funding in the collaboration to discover, develop, and commercialize small molecule drugs directed at targets in the kinase protein family. Novartis (SWX:NOVN) will get exclusive global development, manufacturing, and marketing rights to up to eight candidates it accepts from VRTX, which uses the structural similarity of targets in the same family as a basis for parallel and simultaneous design of compounds. VRTX will conduct the drug discovery and clinical proof-of-concept testing of candidates. Excluded from the collaboration are the specific targets p38 MAP kinase and Abl tyrosine kinase, against which the companies already have separate compounds in clinical development.

In addition to a $15 million initial payment and further research funding of $200 million over 6 years, NOVN may pay up to $600 million in additional license fees, milestones and reimbursements to VRTX. Subject to certain conditions, VRTX also will have co-promotion rights in the U.S. and Europe. ...