Mundipharma adds year of funding for Infinity

Mundipharma International Ltd. (Cambridge, U.K.) exercised its annual opt-in rights under a 2008 deal with Infinity Pharmaceuticals Inc. (NASDAQ:INFI) to provide additional funding for several Infinity compounds. Infinity will now receive up to $110 million to cover 2012 development expenses for the programs, which include cancer candidate IPI-926 and several preclinical inhibitors of phosphoinositide 3-kinase (PI3K). Mundipharma has already committed up to $85 million for 2011. ...