Egenix, TeraDiscoveries deal

TeraDiscoveries and Egenix partnered to discover and develop a cancer drug and an autism drug against the same target, eukaryotic translation initiation factor 4E (eIF4E). TeraDiscoveries said it received an upfront payment of less than $500,000 and retains a minority stake of less than 20% in the two drug candidates. Egenix will provide funding and target data that TeraDiscoveries will use to identify and optimize inhibitors for autism and certain cancer indications that overexpress eIF4E. TeraDiscoveries will use its Inverse Design software platform to design the molecules. ...